UK Court: Nirav Modi denied bail for third time

Denying bail to Punjab National Bank fraud accused Nirav Modi for the third time, a UK Court has said that the diamond merchant would fail to surrender.

Appearing before Westminster Magistrates Court Chief Magistrate Emma Arbuthnot on Wednesday, Nirav's counsel doubled the bail security to 2 million pounds. It was also offered that the accused would stay on 24-hour curfew at his London flat but the judge could not be convinced.

It may be noted that in an earlier instance, the Crown Prosecution Service, advocating on behalf of Indian authorities, said Nirav should not be granted bail claiming that the evidence presented by the defence does not amount to change of circumstances required to third bail application.