Nirav Modi's bail rejected for the third time

London, Apr 26: A UK court on Friday rejected the third bail plea of fugitive diamantaire Nirav Modi. Nirav Modi is wanted by the authorities in India for alleged fraud and money laundering charges amounting to an estimated USD 2 billion.

UK's Westminster Magistrates' Court on March 29 rejected the second bail plea of fugitive diamantaire Nirav Modi

The 48-year-old, who has been behind bars at Wandsworth prison in south-west London since his arrest last month, appeared before Westminster Magistrates' Court Chief Magistrate Emma Arbuthnot via videolink from the jail today. He was further remanded into custody till May 24.

On March 20, Nirav Modi was arrested in London and produced in Westminister Court, which denies him bail.

Westminister Court in London had on March 18 issued arrest warrant against fugitive Nirav Modi after the Indian government request was forwarded to the court by the UK Home Office.

Nirav Modi was arrested from a Metro Bank branch in London by uniformed officers on March 20 when he went there to open a new bank account. A bank clerk alerted Scotland Yard as a result of the "high publicity" surrounding the case and Metropolitan Police officers arrived to execute the arrest. This over-rode a previous arrangement made between Scotland Yard's extradition unit and Nirav Modi's lawyers for him to surrender "by appointment" at a central London police station, something his legal team blamed on the "nature of publicity" surrounding the case.