‘UK courts have twice concluded that there is an evidenced prima facie case’: Judge on rejecting Nirav Modi’s bail application

LONDON: Dismissing the 10th bail plea of Nirav Modi after considering that the fugitive diamond trader would ‘abscond’ if released, the London High Court judge has said UK courts have “twice concluded that there is an evidenced prima facie case against the applicant.”

Stating that his risk of absconding is high, Justice Michael Fordham at the Royal Courts of Justice dismissed the bail plea.

“And I repeat, after careful evaluation, UK courts have twice concluded that there is an evidenced prima facie case against the applicant,” Justice Fordham said while rejecting Nirav Modi’s bail plea on May 15.

The 54-year-old fugitive has filed the bail application after his extradition to India was allowed by a UK Court earlier. His bail application was opposed by the Indian agencies before the High Court. It was his 10th bail petition since his detention in the United Kingdom in 2019.

Nirav Modi, the prime accused in the over Rs 13,800 crore fraud at Punjab National Bank, was declared a fugitive economic offender by India in December 2019.

The UK High Court said that Nirav Modi is wanted for trial in India for matters of ‘very great seriousness and substance’ relating to allegations of economic crime, in which he is said to have been the principal perpetrator.

The High Court noted that the allegation is that, as the lead perpetrator, Nirav Modi (acting in conjunction with others) fraudulently induced the PNB to issue documents which allowed money to be withdrawn from foreign banks.

The central points put forward on the applicant’s behalf in the earlier extradition proceedings were, that there was a good and lawful explanation for the transfer of the monies to the relevant entities who received those monies; rather than any denial that the monies were in fact transferred, the court noted in the order of May 15.

The amounts alleged to have been transferred, induced by the fraud, come to an aggregate amount of 1,015.35 million US dollars, Justice Fordham said.

The Courts, in the context of the Applicant’s extradition, have on two occasions assessed the underlying evidence being relied on against the bail applicant. On each occasion, the court has been satisfied that there is a “prima facie case”, Fordham said.

The court also considered the destruction of a mobile phone in 2018 and interference with witnesses.

” Part of what is alleged is that he was criminally responsible for actions in which witnesses were interfered with and evidence was destroyed,” the court noted.

The Judge further noted, ” Also said to have been destroyed was evidence on a computer server in Dubai in February 2018. All of that would have taken place at the time when the Applicant was here in the UK.”

Earlier this week, the Central Bureau of Investigation (CBI) also issued a press release confirming the court’s decision.

“Fresh Bail Petition filed by Nirav Deepak Modi was rejected by the High Court of Justice, King’s Bench Division, London. The bail arguments were strongly opposed by the Crown Prosecution Service advocate who was ably assisted by a strong CBI team consisting of investigating and law officers who travelled to London for this purpose.”

The statement added: “Central Bureau of Investigation (CBI) could successfully defend the arguments which resulted in rejection of the bail. Nirav Deepak Modi is in UK prison since 19th March 2019. It may be recalled that Neerav Modi is a fugitive economic offender who is wanted for Trial in India in a Bank fraud case of CBI for defrauding Punjab National Bank for Rs. 6498.20 crore.”

The CBI further stated: “This is his 10th bail petition since his detention in UK which was successfully defended by CBI through Crown Prosecution Service, London.”

British authorities arrested Modi in March 2019, and the UK High Court has already approved his extradition to India.

The ED registered the PMLA case against him and his uncle Mehul Choksi in 2018, with multiple assets seized during investigations. His attempts to block extradition have repeatedly failed, including a plea to the UK Supreme Court in December 2022. (ANI)