Here are the reasons why Nirav Modi was denied bail for the third time
The court had rejected bail for Nirav twice before since his arrest on March 19.
Mumbai: After Nirav Modi’s third failed attempt to get bail, his lawyer said that Indian authorities have seized or liquidated the equivalent of USD 860 million of his funds and he does not have access to enough resources to flee, reported Bloomberg.
Judge Emma Arbuthnot said though Nirav was willing to double his proposed security to 2 million pounds, the risk of interfering with witnesses and destroying evidence remained too high.
Read: Nirav Modi denied bail again, security offer was doubled to 2 million pounds
"I still have substantial grounds to find that he will refuse arrest and interfere with witnesses," Arbuthnot said. "He has access to resources."
Judge also pointed out that Nirav had destroyed phones and servers, was telling a witness what to say and luring others to Egypt to influence them with the help of associates.
"Central parts of the claims made by the government of India are false," Nirav’s lawyer Montgomery said. "Their efforts to describe him as a diabolical maniac or as a cold-blooded and hardened criminal are proven to be false."
The court had rejected bail for Nirav twice before since his arrest on March 19.