The Westminster Magistrates' Court at London in the United Kingdom on Wednesday rejected a new bail application filed by diamond merchant Nirav Modi, who is fighting extradition to India on charges of a fraud and money laundering case in connection with the $2 billion-Punjab National Bank (PNB) scam.
He has been in custody at Wandsworth prison in south-west London, one of England's most overcrowded prisons, since his arrest in March. Judge Emma Arbuthnot rejected his bail application despite Modi's offer to double security from 2 million pounds to 4 million pounds.
Modi has reportedly claimed anxiety and depression in his latest application, with earlier bail applications at the court being rejected by Chief Magistrate Emma Arbuthnot, and then also on appeal at the High Court in London, as he was deemed a flight risk.
Modi has been behind bars at Wandsworth prison since his arrest on March 19 on an extradition warrant executed by Scotland Yard on charges brought by the Indian government.