PNB Case: Nirav Modi Remanded In Custody Till April 15

Fugitive diamond merchant Nirav Modi, fighting extradition to India on charges over the nearly $2 billion Punjab National Bank (PNB) fraud & money laundering case, has been remanded in custody by a UK court until Apr 15.

The 49-year-old, who has been lodged at Wandsworth Prison in south-west London since his arrest last year, was due to appear via videolink from prison for his regular 28-day call-over hearing on Tuesday but Westminster Magistrates' Court in London said that the formality was completed last Thursday.

"This case is next listed for a call-over videolink hearing for April 15," a court official said on Monday.

Nirav Modi's legal team & the Crown Prosecution Service (CPS), representing the Indian govt in the extradition proceedings, are scheduled to hold a "lawyers-only" case management hearing in the case on Apr 15, with a five-day trial scheduled between May 11 & 15.

Most of the legal cases in the UK are switching to videolink & telephonic options where possible, with all new jury trials suspended amid the social distancing rules in place to combat the COVID-19 pandemic. All UK prisons have also been issued with health guidance related to the coronavirus outbreak, with strict rules around hand-washing for inmates, staff & visitors.

"The govt''s absolute priority is to protect life, & we have robust & flexible plans in place to keep prisoners, staff & the wider public safe based on the latest advice from Public Health England," said a UK Ministry of Justice spokesperson.

Nirav Modi had made a fifth attempt at bail in the HC earlier this month, which was rejected as the judge ruled that he continued to pose a flight risk.

Justice Ian Dove presided over the bail hearing at the Royal Courts of Justice on Mar 5, during which Nirav Modi appeared via videolink from Wandsworth Prison as his legal team offered a package of "stringent" bail measures, including bail security of 4 million pounds, house arrest at his central London luxury apartment with a 24-hour electronic tag as well as a private security guard service & a strictly monitored access to gadgets & telephones.

"My central concern of a risk of absconding aren't obviated by the measures presented," Justice Dove had concluded.

Nirav Modi was arrested on Mar 19, 2019, on an extradition warrant executed by Scotland Yard on charges brought by the Indian govt. During subsequent hearings, Westminster Magistrates'' Court was told that Nirav Modi was the "principal beneficiary" of the fraudulent issuance of letters of undertaking (LoUs) as part of a conspiracy to defraud PNB & then laundering the proceeds of crime.

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