On Friday, a court in Londan denied bail to fugitive diamond businessman Nirav Modi for the third time. He has been remanded till May 24 and full hearing has been scheduled for May 30. This was his third bail application since he was arrested.
Modi was arrested in Londan on March 19 for allegedly duping India’s Punjab National Bank of over Rs 13,000 crore. His first bail application was rejected by the Court. He was sent to the custody at HM Prison Wandsworth till March 29 after the Westminster court had rejected his bail plea. The prosecution had alleged that Modi made death threats to witnesses and attempted to destroy evidence.
Mehul Choksi who resides in the Caribbean nation of Antigua still couldn’t be found. The Judicial Authorities of Indian agencies have been trying to get him arrested but no success.
The Enforcement Directorate on Friday said luxury cars belonging to Modi and his uncle, Mehul Choksi, were auctioned for Rs 3.29 crore. The agency had attached the vehicles under the Prevention of Money Laundering Act.
Income Tax department last month auctioned several artworks which were owned by Nirav Modi for Rs 59.37 crore.
In March, the Enforcement Directorate had demolished Nirav Modi’s seaside bungalow in Alibaug. In October 2018, they had seized assets belonging to Modi worth Rs 637 from India and abroad.
