Photo ; AP

Diamond merchant Nirav Modi, the accused in the Punjab National Bank scam was denied bail the third time. He will continue to reside in London at Wandsworth prison. On March 19, Scotland Yard officers arrested him, and two bail pleas have already been rejected. On January 29, 2018, Punjab National Bank filed a complaint against Nirav Modi, Mehul Choksi and others accusing a fraud of Rs. 2.81 billion.

Succeeding in this, the Central Bureau of Investigation headed for an investigation and approximately. To recover the scam money, the Government has gone on a seizure spree, confiscating gold and diamond jewelry worth of Rs. 56.74 billion. Modi’s run came to an end when British newspaper ‘The Telegraph’ indeed confirm his presence in the country.

The newspaper clicked photos of him on a London Street. Thereafter, the West Minister Court issued an arrest warrant and denied his bail plea consecutively three times.

Why he was denied bail?

Even after increasing the security offer to £2 million, it was not enough to handle the concerns. The concerns were the large fraud, his lack of community ties in the United Kingdom and the risk that he possesses to use means to evade justice. For that, the defense contended that Modi would not seek to flee the UK. Clare Montgomery, the defense Barrister, also addressed the unlivable conditions at the Wandsworth jail. The next hearing will take place on May 30.

The Judge in the case, Judge Arbuthnot raised the possibility of considering a 24-hour curfew in order to grant the bail. On the third bail plea, the defense’s offering of witnesses by Indian authorities was not also enough. On this, the judge pointed out that a  former Abu Dhabi employee who is also a potential witness to the case made an attempt to evade to Egypt. The court also referred to the conversation where Modi’s brother Nehal was telling a witness what to say.

The Crown Prosecution Service represented by Nick Hearn acted on behalf of India in the court. Hearn proposed his argument by saying that there was nothing new for the defense to refer as ‘ material change of circumstances’ and that the case has taken a U-turn to the same point where it was. This is so because a third bail hearing is very rare. A 3rd bail only takes place if the applicant can prove significant changes in the circumstances.

The court hearing talked mostly about the former employees from Abu Dhabi who were accused of evading to Egypt. On the other hand, Suresh Parab one of the employees presented a completely different picture to the court. He said that he was unlawfully imprisoned in Egypt without his will. India also seemed to be supporting this statement initially. But now it has turned to accuse him of being a key conspirator.
The defense pointed out that the amount and jewelry confiscated by the Indian government are way more than the accused fraud. For this, Hearn suggested not to treat the case as any other corporate case.