Nirav, wanted in India on fraud and money laundering charges amounting to nearly $2 billion (Rs 14,000 crore), had on May 31 applied for bail in the UK high court, after a British court extended his remand till June 27.
The UK’s Crown Prosecution Service (CPS) is representing the Indian government in the extradition case and the hearing of Nirav’s bail plea took place at the Royal Courts of Justice in London on June 11.
The judge concluded the hearing and stated that as the matter of “some importance”, the verdict will be announced on June 12.
Nirav was arrested by Scotland Yard officers in London on March 19 and faces extradition to India as the “principal beneficiary” of the fraudulent issuance of letters of undertaking (LoUs) as part of a conspiracy to defraud the PNB and then laundering the money.
The 48-year-old has been lodged at Wandsworth prison in south-west London since his arrest.
Nirav and his uncle Mehul Choksi, another accused in this case, had left the country in January last year, much before the country’s biggest-ever scam was unearthed.
Earlier, a UK court had directed the Indian government to confirm which prison Nirav is to be held in if he were to be extradited to India.
In response, a top Indian official stated on Tuesday that authorities at the Arthur Road jail here have kept ‘barrack no. 12’ ready if fugitive diamond merchant Nirav is extradited from the UK.
The prison department also assured that Nirav will be kept in a cell where the number of other detainees is not more than three, the official added.
(With agency inputs)
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