UK extends Nirav Modi’s judicial custody till Aug 22
The West Minister Magistrates’ Court in London, United Kingdom extended the judicial custody of fugitive diamond merchant Nirav Modi till August 22. The hearing was held via video link from Wandsorth prison where he is lodged since March 19 for allegedly duping India’s Punjab National Bank of more than 13,000 crore.
Chief Magistrate Emma Arbuthnot presided over the routine four-week remand indicating that a five-day extradition trial will take place in May 2020 after the dates are mutually agreed between all sides. Modi was dressed in a grey T-shirt for the hearing.
The Enforcement Directorate in India sized four Swiss bank accounts with a total of Rs 283.16 crore belonging to Modi and his sister Purvi Modi. The Swiss authorities froze the accounts under the criminal provisions of the Prevention of Money Laundering Act and the amount is represented as ‘proceeds of crime’.