New delhi sources stated that A British court on Wednesday extended, till June 27, the judicial custody of Nirav modi, while rejecting his bail plea as it suspected that he could "interfere" with witnesses. Meanwhile the Westminster Magistrates' Court ordered the Metropolitan Police to put him under its custody till the next hearing on June 27.
Reportedly the 48 year old businessman, wanted in india in connection with the multi-crore Punjab National Bank (PNB) fraud case, was arrested from Holborn here on March 19. Since then he has been fighting extradition proceedings and further the court cited alleged efforts to interfere with witness statements and destruction of evidence for extending Nirav modi's judicial custody. Furthermore the businessman and his uncle Mehul Choksi are being investigated by the Enforcement Directorate and the Central Bureau of Investigation after the PNB alleged that they cheated it of Rs 13,500 crore with the involvement of a few bank employees.
Moreover Nirav modi also faces charges under the Fugitive Economic Offenders Act. The ED has filed a charge sheet against Choksi in a Prevention of Money Laundering Act Court in mumbai, where both fled india before the details of the fraud emerged in January 2018 before the scam was unearthed.
