Nirav Modi bail plea rejected

The bail application of fugitive Nirav Modi, the main accused in the PNB scam case, has been rejected. The King’s Bench Division High Court in London rejected it after a hearing. On behalf of India, the CBI lawyer opposed Nirav’s arguments. Nirav Modi is accused of defrauding Punjab National Bank (PNB) of around Rs 14,000 crore by taking loans. After the scam came to light, he fled the country in January 2018. Nirav was arrested from south-west London on March 19, 2019. Since then, he has been in jail there. There are three fraud cases against Nirav in India. The CBI case is for fraud with Punjab National Bank (PNB). The second, the PNB case is a case of money laundering and the third, the case of tampering with evidence and witnesses in CBI proceedings.