Nirav Modi's custody extended till Feb 27 in PNB fraud case, trial to begin on May 11

Fugitive diamantaire Nirav Modi was remanded in custody till February 27, 2020, after he appeared before a UK court on Thursday via video link from his London prison.

Modi, the prime accused in USD 2 billion Punjab National Bank (PNB) fraud, is currently lodged at Wandsworth prison in south-west London and is wanted for his alleged role in the Rs 13,570 crore loss caused to the Punjab National Bank (PNB) along with his uncle, Mehul Choksi.

Modi, 48, was arrested in March last year by Scotland Yard in connection with the case.

His five-day extradition trial is due to begin on May 11.

The Ministry of External Affairs (MEA), earlier this month, said that the Indian government has put all "resources on the ground to ensure early extradition" of Modi and Choksi.

He was declared a fugitive economic offender under the Fugitive Economic Offenders Act on December 5, 2019. The order on the confiscation of his properties is yet to be issued.

Modi, 48, was arrested in March this year by the Scotland Yard in connection with the case.

He did not return to India despite repeated summons from Indian probe agencies and courts. India is seeking his extradition to make him face the law of the land for allegedly committing economic offenses.