LONDON: A UK court Wednesday denied for the third time bail to fugitive diamantaire Nirav Modi, the main accused in the Punjab National Bank fraud and money laundering case amounting to up to USD 2 billion. Modi's defence team doubled the bail security to 2 million pounds and offered he would stay on 24-hour curfew at his London flat. "Conditions in Wandsworth (prison) are unliveable... Modi is willing to abide by any conditions you choose to impose," his barrister Clare Montgomery told the Judge during the lengthy hearing. Judge Arbuthnot denied bail to Modi as she feared that he would fail to surrender. He is wanted by India in relation to the ₹13,500-crore PNB fraud case.

Source: Mint May 08, 2019 17:37 UTC