Nirav Modi, fugitive diamond trader and designer, has been remanded in custody by a London court. Prime-accused in the Rs 11,000-crore Punjab National Bank (PNB) scam that broke out in 2018, Nirav Modi is also fighting extradition to India.
A haggard-looking Nirav Modi joined his remand proceedings in Westminster Magistrates Court on October 9 from Wandsworth Prison via video-conference. The court remanded him in custody till November 3 when the admissibility of evidence will be argued in the court of District Judge Samuel Gooze.
Nirav Modi is fighting extradition charges related to the estimated USD $2 billion Punjab National Bank (PNB) fraud and money laundering case brought against him by the Indian government. He is being represented at Westminster Magistrates’ Court in London by the UK’s Crown Prosecution Service (CPS).
In fact, Nirav Modi is being tried on two separate extradition requests, one of which is related to money laundering and fraud while the other concerns tampering evidence and threatening witnesses.
Two phases of the trial have concluded, with the first one concluding in May 2020 and the second in September 2020.
Charges against Nirav Modi include money laundering, fraud, intimidation of witnesses, and tampering of evidence.
The final submissions in the trial are scheduled for December 1 of this year. Verdict in the Nirav Modi extradition case is expected on a later date post the final submissions.