Fugitive businessman Nirav Modi, who has been in a London jail for over 5 years, on Tuesday filed a brand new bail utility which was rejected by a UK decide who dominated that he continued to pose a “substantial danger” of absconding justice.

Declared a ‘fugitive financial offender’ in December 2019, Nirav Modi and his uncle Mehul Choksi are accused of committing a Rs 14,000 crore rip-off by acquiring credit score services fraudulently from the Punjab Nationwide Financial institution and are wished in India.

The 52-year-old diamond service provider, who misplaced his extradition battle to face fraud and cash laundering fees in India, didn’t seem for the bail listening to at Westminster Magistrates Courtroom in London however his son and two daughters had been current on his behalf.

“I’m glad that there stay substantial grounds towards bail. There continues to be an actual, substantial danger that the applicant [Nirav Modi] would fail to attend court docket or intrude with witnesses,” Decide Zani was quoted saying in his judgment after a brief listening to.

“This case entails, by any footing, a really substantial fraud allegation… not one the place bail could be granted and the applying is refused,” he mentioned.

A joint Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) crew had arrived from India for the listening to and adopted the proceedings in court docket.

There are three units of felony proceedings towards Nirav Modi in India – the CBI case of fraud on the Punjab Nationwide Financial institution (PNB), the ED case referring to the alleged laundering of the proceeds of that fraud and a 3rd set of felony proceedings involving alleged interference with proof and witnesses within the CBI proceedings.

He was arrested on an extradition warrant on March 19, 2019, after which UK Dwelling Secretary Priti Patel ordered his extradition in April 2021. The businessman has since exhausted his authorized appeals within the case as much as the Supreme Courtroom and made six separate bail functions, providing as much as GBP 4 million as safety in his final try in October 2020.

(With PTI inputs)