Justice Abhay Thipsay, a Retired High Court Judge who has served in the Bombay and Allahabad High Courts, told a London Court via video link from India that the charges levelled by the CBI against jeweller Nirav Modi, which include criminal conspiracy, cheating and dishonestly inducting delivery of property would not stand up under Indian law.

He said:

"Unless someone is deceived there can be no cheating under Indian law. Deception is an essential ingredient of an offence of cheating. If no one was deceived in issuing LoUs there is no question of a corporate body being deceived. The authority given to officials of the bank to issue LoUs cannot be said to be property and they cannot be said to be entrusted with property and therefore there cannot be a criminal breach of trust."

Justice Thipsay is the brother of chess Grandmaster Pravin Thipsay, who granted bail to actor Salman Khan in 2015.

The CBI and ED, too, were watching the third day of the trial at the Westminster magistrates’ court via link from India.

Nirav Modi is accused of accused of obtaining unsanctioned loans worth £700 million (Rs 6,498 crore) at highly advantageous rates by means of LoUs (letters of undertaking) from Punjab National Bank (PNB) in conspiracy with PNB officials from 2011 until 2017.

The Crown Prosecution Service submitted a further 250 pages of evidence, including bank statements, even though the last date for serving of evidence was May 5. Nirav’s lawyer, Clare Montgomery QC, objected, but district judge Samuel Mark Goozée decided to allow it. Montgomery will be given time to respond, but it will further delay the hearing.

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