Speaking during a separate debt case involving Bank of India, Modi cited unfair trial conditions due to poor prison facilities.
Fugitive Indian businessman Nirav Modi has told a UK court that there will be “sensational developments” in his Indian extradition case when it reopens for hearing next month. Modi, accused in the Rs 6,498 crore Punjab National Bank (PNB) fraud, made the statement during a separate legal proceeding related to an unpaid $8 million debt to the Bank of India, at the Royal Courts of Justice in London.
Modi, 54, has been behind bars in London since March 2019 following his arrest. He is fighting extradition to India on charges of fraud and money laundering. Representing himself as a “Litigant in Person,” Modi read from handwritten notes in court, dressed in a worn-out white t-shirt and pink track pants. He cited issues with poor eyesight and lack of access to a computer in prison, which he argued made the legal process unfair.
Extradition case reopened
The UK’s Crown Prosecution Service (CPS) confirmed that Nirav Modi has formally filed an application to reopen his extradition appeal. The Indian government has already submitted its response, and a hearing is scheduled for late November. This development comes after the UK Home Office had approved his extradition, making the new appeal a significant turn in the high-profile case.
Modi expressed hope that he would either be discharged or granted bail, especially after the court accepted new evidence. However, High Court Judge Simon Tinkler refused to stay the trial on technical or medical grounds, stating that prison authorities would make necessary adjustments, including providing access to a computer within a week.
Background of the PNB fraud case
Nirav Modi fled India in January 2018, just weeks before the massive banking scam came to light. Along with his uncle Mehul Choksi, Modi is accused of defrauding PNB by obtaining fraudulent Letters of Undertaking (LoUs) without proper sanction or collateral. The scam led to payments by PNB to international banks like SBI (Mauritius and Frankfurt), Allahabad Bank (Hong Kong), and others after Modiโs firms defaulted.
He was declared a fugitive economic offender in 2020 by a Mumbai court, which also ordered the confiscation of his assets. Multiple bail attempts in the UK have been rejected due to flight risk concerns.