Nirav Modi makes new UK bail application in high court as assets go under the hammer in Mumbai

By

Isabelle Crossley

Published
Mar 4, 2020

Jewellery tycoon Nirav Modi has moved the high court in London, England for the second time and will make his fifth application for bail on March 5, the same day that 112 of his assets will be auctioned in Mumbai.

 
As Nirav Modi remains in UK police custody in Wandsworth Prison outside of London, the jeweller accused of fraud at the Punjab National Bank will make a fifth application for bail on Thursday, TNN reported. Modi is being held in one of the UK’s most overcrowded jails and has reported being a victim of assault during his incarceration. Modi will appear at the hearing via a video-link from his cell in Wandsworth Prison, a spokeswoman for the high court told the Times of India.
 
The same day that Modi moves the London high court, 112 of his assets will be auctioned in Mumbai by auction house Saffronart. Items up for auction include luxury watches, cars, and paintings and the auction was organised under the direction of the Enforcement Directorate.

Modi is also preparing for his extradition trial which is scheduled to take place from May 11 to 15 at Westminster Magistrates Court in London. The trail will decide if Modi will be extradited to India to stand trial for his accused fraud at the Punjab National Bank along with his uncle and fellow jeweller Mehul Choksi. 
 
However, if the court rules to extradite Modi, a lengthy appeal process will still be available to him. Modi will also attend monthly call-over hearings via video-link in the lead up to his trial.