The UK High Court on Tuesday began hearing the bail plea of fugitive diamond merchant Nirav Modi, who was arrested on March 19 in connection with the USD two-billion Punjab National Bank fraud case.
Clare Montgomery, who is representing Modi in the case, submitted before the Royal Court of Justice here that if Nirav was granted bail, he would be willing to be tagged through an electronic device so that his movements could be tracked.
"He moved here to raise capital, to explore where in the world he needed to be immigration wise. If he is given bail, he is willing to be tagged through an electronic device, have a phone that can be tracked," Montgomery said.
"Since he has an extradition case starting, there is no way he will run away. His daughter and son will be moving here, they are starting university," she added
Modi's bail plea has been rejected thrice already in London's Westminster Magistrates' Court.
Modi was arrested by Scotland Yard in connection with the PNB loan default case on March 19 this year.
India is seeking the diamond merchant's extradition to make him face the law of the land for allegedly committing economic offences like fraud and money laundering.
He has been lodged at Wandsworth prison in south-west London.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app