 "UK High Court denies bail to fugitive diamond merchant Nirav Modi")
The UK High Court on Wednesday denied bail to fugitive diamond merchant Nirav Modi.
Denying Nirav Modi's plea against a lower court's order to deny him bail, a UK judge said that there was substantial ground to believe that he would fail to surrender in the nearly $ 2 billion Punjab National Bank (PNB) fraud and money laundering case.
During the hearing, which began Tuesday, Modi's legal team had repeated many of its assertions from previous three bail pleas before Westminster Magistrates' Court to claim that the 48-year-old diamond merchant did not pose a "substantial" flight risk, as claimed by the Indian government.
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