UK High Court denies bail to Nirav Modi; judge says he will not surrender

Judge Ingrid Simler at the Royal Courts of Justice said that there are substantial grounds to believe that Modi will fail to surrender

The UK High Court on Wednesday rejected Nirav Modi's bail application, his fourth attempt as the diamond merchant fights his extradition from Britain to India in the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case.

In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler concluded there are "substantial grounds" to believe that the 48-year-old fugitive diamantaire would fail to surrender as he does possess the means to "abscond".

Reiterating similar concerns as those raised by the lower court in the UK during previous bail hearings, Judge Simler ruled that