Brief by Shorts91 Newsdesk / 03:07pm on 19 May 2025,Monday India
Fugitive diamantaire Nirav Modi has once again been denied bail by the UK High Court, marking his tenth failed attempt since his arrest in March 2019. Modi is the prime accused in the ₹6,498 crore Punjab National Bank fraud and is currently lodged in a UK prison. The Enforcement Directorate and CBI opposed the bail, presenting evidence of money laundering through shell companies. His extradition to India has been cleared, but remains delayed due to pending legal proceedings. The UK court emphasized the scale of the fraud and risk of flight while rejecting the bail plea on May 15, 2025.
