Judge Tan Ikram directed the court authorities to seek confirmation of the five-day extradition hearing starting May 11, 2020
Nirav Modi. Pic/Twitter IANS
On Thursday, London's Westminster Magistrates' Court extended the judicial custody of fugitive diamantaire Nirav Modi till September 19. Nirav Modi was arrested in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud and money laundering case.
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Fugitive businessman Nirav Modi remanded to judicial custody till 19th September by Judge Tan Ikram in London Westminster Court pic.twitter.com/Cov19lGkke
— ANI (@ANI) August 22, 2019
The 48-year-old businessman had appeared before the court via video link from Wandsworth prison in south-west London, where he is currently lodged. Modi was arrested on an extradition warrant on March 19 by uniformed Scotland Yard officers and has been in prison since then.
While announcing the decision, Judge Tan Ikram directed the court authorities to seek confirmation of the five-day extradition hearing starting May 11, 2020, reports news agency ANI. On the other hand, a case management hearing may also take place in February next year.
Also Read: Mumbai: Debt Recovery Tribunal directs Nirav Modi to pay Rs 7,300 crore
Nirav Modi and his nephew Mehul Choksi are the main accused in the PNB loan default case. The duo fled the country in January 2018 before the PNB loan fraud scam came to light. Despite repeated summonses from Indian probe agencies and courts, Modi has not returned to India.
The Indian government is seeking his extradition in order to make him face the law of the land for allegedly committing the economic offences. In June 2019, four Swiss bank accounts belonging to Nirav Modi and his sister Purvi Modi were frozen by authorities in Switzerland.
According to sources, the bank accounts of both, Nirav and his sister Purvi, which had a deposit balance of USD 3,74,11,596 (over Rs 258 crore) and GBP 27,38,136 (over Rs 283 crore) were seized on the request of the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002.
Also Read: Nirav Modi's four swiss bank accounts worth 283 crore frozen
The Central Bureau of Investigation and the Enforcement Directorate (ED) are investigating Nirav Modi, his uncle Mehul Choksi and others for the alleged PNM money laundering case. The scam came to light last year and Nirav's sister Purvi was also named as an accused by the ED in its charge sheet filed before a Mumbai court.
With inputs from IANS and ANI
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