INDIAN jeweller Nirav Modi is planing to appeal for bail in the UK high court after his second bail petition was rejected by a lower court last week.
“Mr Modi intends to appeal his bail decision, but he has not yet submitted the appeal,” a Crown Prosecution Service (CPS) spokesperson confirmed today (2).
The fugitive diamond merchant is wanted in India for legal proceedings and is fighting extradition proceedings in the UK in connection with a £767 million Punjab National Bank (PNB) fraud case.
Modi, 48, intends to appeal against Westminster Magistrates’ Court ruling, which rejected his bail pea last Friday (29), said the CPS, which represents the Indian investigating agencies.
Judge Emma Arbuthnot last week dismissed the Indian jeweller’s bail petition on the grounds that there was a “substantial risk he would fail to surrender”.
The business tycoon is in custody at HMP Wandsworth in south-west London since his first bail application was rejected on March 20.
Modi can appeal at any time until his next remand hearing scheduled for April 26.
Modi’s solicitor Anand Doobay was reluctant to provide any details on the plans for a bail application.
