Pnb  

The 48-year-old, who has been behind bars at Wandsworth prison in south-west London since his two previous bail applications were rejected following his arrest on March 19, is to appear before Chief Magistrate Emma Arbuthnot at Westminster Magistrates' Court here on May 8 for a third attempt

In the letter, the bank mentioned that it had sanctioned a cash credit loan of Rs 100 crore and a term loan of Rs 17 lakh in favour of M/S North East Region Financial Services Limited in which Keishing James Lalrongbawl was a director and personal guarantor.

The lawyers of Nirav Modi offered a huge sum as security for his bail. However, the magistrate said that the amount he is accused of swindling is much larger than the surety. Besides, she said, Modi could once again run away.

 

 

Prime Minister Narendra Modi said that his government made laws to prevent economic offences in the country. The law also enabled the Indian government to seize their property at any corner in the world.

CBI will send a team to London for Nirav Modi's case hearing, on 29 March.

In Nirav Modi's case, the evidence of cheating and money laundering are stronger and that uplifts the dual criminality clause required in such cases in the UK. Enforcement Directorate officials and the CBI expect a faster affair in this case when compared to the exercise of bringing back Vijay Mallya.

Nirav Modi was arrested from a Metro Bank branch in London by uniformed officers on Tuesday, when he went there to open a new bank account

Fugitive billionaire Nirav Modi's bail plea rejected by London Court, to remain in custody till March 29 till the next hearing.

On March 19, a London court issued an arrest warrant against Nirav, the main accused in the Rs 11,400 crore PNB scam case, in response to a request by the Enforcement Directorate for his extradition. 
 

A London court has issued an arrest warrant against fugitive diamantaire Nirav Modi, the main accused in the $2 billion PNB scam case, in response to a request by the Enforcement Directorate for his extradition in a money laundering case.

In 2013, a government nominee director on the Allahabad Bank board wrote a letter to the RBI and the secretary of the financial services department about the PNB scam but the UPA government took no action against Nirav Modi and Mehul Choksi

Last year, the state government had written to the ED, which had sealed Nirav Modi's bungalow, Roopanya, seeking a nod to demolish the property on Kihim beach near Alibaug