Sensational developments to come in UK extradition case: Nirav Modi

Nirav Modi, in prison for over six years, has told a UK court there are “sensational developments” to come when his Indian extradition case on fraud and money laundering charges reopens for a hearing in London next month. The 54-year-old fugitive diamantaire appeared in the dock before High Court Judge Simon Tinkler at the Royal Courts of Justice in London on Friday to present his defence in an unrelated case, involving an over USD 8 million unpaid Bank of India debt.  Modi read from handwritten notes in court, dressed in a worn-out white t-shirt and pink track pants. He cited issues with poor eyesight and lack of access to a computer in prison, which he argued made the legal process unfair.
The judge turned down Nirav’s application for a stay on the proceedings on the grounds of technical and medical constraints in prison, which is set to proceed to a trial scheduled in January 2026.  Modi is accused in the Rs 6,498 crore Punjab National Bank (PNB) fraud case. Nirav Modi fled India in January 2018, just weeks before the massive banking scam came to light. Along with his uncle Mehul Choksi, Modi is accused of defrauding PNB by obtaining fraudulent Letters of Undertaking (LoUs) without proper sanction or collateral. The scam led to payments by PNB to international banks like SBI (Mauritius and Frankfurt), Allahabad Bank (Hong Kong), and others after Modi’s firms defaulted. He was declared a fugitive economic offender in 2020 by a Mumbai court, which also ordered the confiscation of his assets. Multiple bail attempts in the UK have been rejected due to flight risk concerns.
Nirav Modi has been in UK custody since his arrest in March 2019 and has made several unsuccessful bail applications over concerns he poses a flight risk, most recently in May this year. He faces three sets of criminal proceedings in India: a Central Bureau of Investigation case over PNB fraud, an Enforcement Directorate case on alleged money laundering, and a third case involving alleged interference with evidence and witnesses.