Today in London, Absconder high profile jeweler Nirav Modi, who is prime accused in PNB Punjab National Bank fraud case of Rs. 13,000-crore denied bail by London court, Nirav has been denied bail after his arrest in central London’s Holborn area. He will be in custody till March 29. Next hearing will be made on March 29.
Nirav Modi was spotted by media in London after the UK put out an arrest warrant for him. Nirav Modi and his uncle Mehul Choksi are the prime accused in the bank scam involving fake guarantees in the name of the state-run lender PNB to get loans overseas. Both left India in January 2018 before CBI Central Bureau of Investigation started investigating the PNB scam.