Nirav Modi further remanded in UK custody, extradition trial planned for May 2020

By

Isabelle Crossley

Published
Sep 20, 2019

Jewellery tycoon Nirav Modi was further remanded in judicial custody in the UK until October 17 at his latest hearing on Thursday. Modi’s extradition trial is planned to begin in May next year.

Modi’s latest “call-over” hearing took place on September 19 at Westminster Magistrates' Court in London, where Judge David Robinson extended Modi’s remand until October 17, the Press Trust of India reported. Modi did not attend the hearing in person and appeared via a video link to his cell in Wandsworth Prison where he has been held since his arrest in London in March.

Robinson also told Modi at the hearing that the court plans to hold a five-day extradition trial for him from May 11 to 15, 2020. However, if the court does rule to extradite Modi to India to stand trial for his accused fraud at the Punjab National Bank, he will have the right to appeal the ruling.

Modi is accused along with his uncle, Mehul Choksi, and several others of defrauding the PNB to the tune of over Rs 13,500 crore ($2 billion). Other banks have also reported exposure to the fraud, with Oriental Bank recently revealing that it has a loan exposure of Rs 289 crore in the fraud.