London: The London Court on Friday rejected the bail application of Nirav Modi and extended his custody till May 24. This comes as another blow to the fugitive diamond merchant accused of defrauding the Punjab National Bank (PNB) of more than Rs 13,000 crore.
Nirav Modi will appear through video conferencing on May 24, the day the court will hold a brief hearing, the Judge indicated.
According to reports, a detailed hearing on Modi’s case will take place on May 30. The Westminster Magistrate’s Court had twice denied bail to the diamond merchant, but he can appeal to the High Court to seek bail.
Opposing bail to Modi, the Crown Prosecution, on March 20, had told the UK Court that he had threatened a former employee, a witness in the bank fraud case, with dire consequences if he revealed any information.