The 48 year old Mumbai based diamantaire was indicted for extorting over 2 billion USD from the Punjab National Bank. He was located living in London and later was arrested by a Red Corner Notice issued by CBI. Nirav Modi will appear on Friday before the court for the bail plea.
District Judge Marie Mallon negotiated the hearing date to March 29 thinking there are lots of hefty reasons that he would fail to surrender after granting bail. Also, for aiding the local authorities CBI is heading to London in the extradition case.
India acted to this after Nirav Modi was located down to a three-bedroom flat in the Centre Point tower block of luxury apartments in London. Soon after India asked the British government to arrest along with CBI issuing Red Corner Notice.
Back in India The Income Tax department on Tuesday evening introduced the artworks owned by the absconding Modi to bid for Rs 59.37 crore. The department will get a net of Rs 54.84 crore and is expected to be the expensive artwork ever sold.
Modi is currently residing in London and been engaging in small business.