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Friday
September 2019
10:11 PM IST
News Headlines
We have to hug each Kashmiri, create new paradise: Modi        Rajnath Singh becomes first Defence Minister to fly in Tejas fighter aircraft        Netanyahu''s rival Gantz says he should be PM in unity government        Tunisia''s ex-president Ben Ali dies in exile        Sindhu out of China Open, Praneeth enter quarterfinals        Former Dutch soccer player Maynard shot dead        Israel election: Netanyahu trails by a seat with majority votes counted        MODI Pak refuses India''s request to open airspace for PM Modi citing ''situation in Kashmir''        HINDI Never asked for imposing Hindi over native languages, says Shah; Stalin postpones protest        Rupee stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices        Kohli hits unbeaten 72 as India outplay SA to begin home season with a bang        Vinesh locks Olympic quota with bronze at Worlds, Pooja in line for second medal        China Open: Sindhu, Praneeth, Kashyap enter second round, Saina crashes out        Azad, Ahmed Patel meet Chidambaram in Tihar jail        DRDO, Air Force successfully test-fire ''Astra'' missile        NGOs receiving substantial financing from govt come under RTI Act, says SC        All party meet decides to explore legal options to help flat owners        Taliban kill at least 48 in bloody day ahead of Afghan polls        Pompeo heading Tuesday to Saudi Arabia over Iran tensions: Pence        Oil sinks 5% on forecasts of quick Saudi output recovery        
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Business News
Nirav Modi to appear via videolink for remand hearing in UK
 
London: Fugitive diamantaire Nirav Modi, wanted in India in connection with the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case, is set to appear before a UK court for his customary 28-day remand hearing on Thursday.

The 48-year-old is likely to be informed of the dates for his trial on the extradition charges brought by the Indian government, being represented at Westminster Magistrates' Court in London by the UK's Crown Prosecution Service (CPS).

Modi has been lodged at Wandsworth prison in south-west London since his arrest in March on an extradition warrant executed by Scotland Yard.

Chief Magistrate Emma Arbuthnot had presided over the last remand hearing at the court via videolink from the prison where Modi is being held, during which she had indicated that the dates for an estimated five-day trial would be mutually agreed by both sides soon.

As per the timelines discussed during the brief hearing, the judge said she expected to receive all the evidence and skeleton argument bundles in the case by April 8, with a five-day hearing then expected to be slotted in May next year.

There are likely to be a number of case management hearings ahead of that but meanwhile a planned case management hearing for next Monday was vacated as not required.

Under the UK's law, Modi is expected to be produced before the court every four weeks.

Modi has previously had his bail rejected multiple times, the fourth and final time being by the UK High Court last month.

In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler had concluded there were substantial grounds to believe that Modi would fail to surrender as he does possess the means to abscond .

Reiterating similar concerns as those previously raised by Westminster Magistrates' Court during earlier bail attempts, Judge Simler ruled that after considering all the material "carefully", she had found strong evidence to suggest there had been interference with witnesses and destruction of evidence in the case and concluded it can still occur.

"The applicant has access to considerable financial resources, supported by an increased [bail bond security] offer of 2 million pounds," the judge noted.

The High Court judge stressed that while it was not for her to take a "definitive view" on the evidence, she had proceeded on the basis that the government of India has acted in good faith in what is undoubtedly a serious case and a sophisticated international conspiracy to defraud, together with money laundering.

Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19 and has been in prison since. During subsequent hearings, Westminster Magistrates' Court was told that Modi was the "principal beneficiary" of the fraudulent issuance of letters of undertaking (LoUs) as part of a conspiracy to defraud PNB and then laundering the proceeds of crime.


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INTERNATIONAL NEWS
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