UK High Court Rejects Nirav Modi's Bail in PNB Fraud Case

The UK High Court denied bail to fugitive diamond trader Nirav Modi for the fourth time due to the substantial amount of fraud involved in the PNB case. Extradition proceedings are nearing completion. Despite multiple attempts, Modi's pleas for bail have been consistently rejected by UK courts.

The UK High Court has once again turned down Nirav Modi's bail application, emphasizing the significant nature of the fraud associated with the PNB case. The embattled diamond trader's extradition process from the UK is reportedly in its final stages.

Nirav Modi, arrested by Scotland Yard in March 2019, has been denied bail by UK courts several times. Modi, the key figure in the billion-dollar PNB fraud, had his fourth bail application rejected on May 15, 2025. The Enforcement Directorate detailed the rejection as part of the broader effort to extradite Modi back to India to face charges.

The ED has been instrumental in retrieving and restoring defrauded funds to the victim banks. It highlighted the utilization of shell companies by Modi to launder illegal proceeds internationally. To date, assets worth Rs 1,052.42 crore have been restored to banks as extradition proceedings progress. Modi's uncle, Mehul Choksi, also implicated in the scandal, remains a fugitive abroad.

(With inputs from agencies.)