A UK court rejected the bail plea of diamantaire Nirav Modi on Tuesday, citing a “real, substantial risk” of him fleeing justice, according to sources familiar with the matter.

Modi, accused of defrauding Punjab National Bank of ₹6,498 crore, has been held at Wandsworth prison near London since his arrest on March 19, 2019, following India’s extradition request to British authorities. He left India on January 1, 2018, before the Central Bureau of Investigation (CBI) initiated a case against him.

Despite offering a bail package, including £4 million as security and house arrest, UK courts have consistently denied bail to Nirav Modi due to concerns about his potential flight risk and ability to influence witnesses and tamper with evidence.

Judge John Zani entertained Nirav Modi’s latest bail plea, acknowledging the significant passage of time since his last bail application three and a half years ago. However, Judge Zani ultimately found substantial grounds against bail, emphasizing the serious fraud allegations involved in the case.

A joint team from the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) reportedly attended the court hearing in London.

Nirav Modi had previously lost his extradition case at Westminster Court and the UK High Court. His plea to appeal in the Supreme Court was denied.

District Judge Sam Goozee at Westminster Magistrates’ Court ruled on February 25, 2021, that there were no legal barriers to Nirav Modi’s extradition. UK Home Secretary Priti Patel then ordered his extradition on April 15, 2021. However, Nirav Modi sought permission to appeal to the High Court of Justice, London, on various grounds.

On August 9, 2021, the High Court allowed his appeal on two grounds related to human rights and the extradition act. However, the High Court ultimately dismissed his appeal against extradition on November 9, 2022.