One of the main accused in the Rs 13,000 crore PNB loan scam, Nirav has turned into a political pawn of sorts in a battle between BJP and rival parties.
Modi's legal team was headed by Barrister George Hepburne-Scott and his solicitor, Anand Doobay, is the same legal expert hired by former Kingfisher Airlines boss Vijay Mallya in his extradition proceedings against India in the United Kingdom courts. Calling the charges "politically motivated", the billionaire asked for £500,000 ($660,000) bail, but the court ordered him remanded in custody until his next hearing, on March 29.
Nirav was denied bail - in marked contrast to Vijay Mallya - when he appeared at the Westminster Magistrates' Court in London on Wednesday because the judge felt the fugitive diamantaire was rich enough to find ways of fleeing the UK.
PNB Fraud Case; Nirav Modi Arrested LATEST Updates: In a major setback to Nirav Modi, the Westminister court on Wednesday rejected his bail application.
A PMLA court in Mumbai has permitted the Enforcement Directorate to sell 173 paintings and 11 cars belonging to Nirav Modi.
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Modi was believed to be living in a property worth £8 million apartments in the tower, the rent for a similar apartment in the tower comes to approximately £17,000 a month, stated the Daily Telegraph.
The order apparently came in response to a request by the ED for his extradition to India.
He left India past year, shortly before he was accused of taking part in the country's biggest banking fraud. It will also look into whether the extradition will in any way violate Modi's human rights.
With millions of people joining the #MainBhiChowkidaar group on Twitter, the BJP made a decision to go full-throttle in pushing the campaign and blunting Rahul Gandhi's repeated charges of the Modi government apparently supporting both the corrupt and corruption.
Following the report, the Opposition had criticised the government for not being able to bring Modi back to the country, where he faces several cases. The court has further issued a non-bailable warrant (NBW) against Nirav's wife Ami Modi. Mallya has since appealed in a higher court.
An Indian diamond tycoon well known amongst Bollywood stars has been arrested in London over his alleged involvement in a $2 billion banking fraud scandal.