Nirav Modi, the prime accused in the Rs 13,000 crore Punjab National Bank (PNB) fraud case, was denied bail for the tenth time by a UK High Court on May 15. The court ruled that there was a significant risk of the fugitive diamond trader absconding if released.
Modi, along with his uncle Mehul Choksi, is accused of defrauding PNB of Rs 6,498.20 crore before fleeing India in 2018. Indian investigative agencies, the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI), have consistently opposed his bail applications, submitting substantial evidence during court proceedings.
India Today has accessed the order issued by the Royal Courts of Justice, which stated that…