The Westminster Magistrates' Court on Thursday denied bail to fugitive economic offender Nirav Modi for the fourth time. The court has extended custody of the businessman accused in Punjab National Bank (PNB) fraud till June 27, 2019. The next case management hearing will be on July 29, 2019.

It may be noted that the diamond merchant was produced before a court in London on Thursday. Modi is fighting his extradition to India in the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case.

The 48-year-old diamantine has been lodged at Wandsworth prison in south-west London since his third attempt at seeking bail was rejected by Chief Magistrate Emma Arbuthnot at the last hearing in Westminster Magistrates' Court earlier this month.

Nirav Modi was produced before Judge Arbuthnot for the first case management hearing in the case. Aside from extending his custody, the judge has also asked the Indian government to provide the information about the prison where he will be held within 14 days.

Worth mentioning here is that Nirav Modi was arrested by Scotland Yard officers on an extradition warrant from a Metro Bank branch in central London on March 19 when he attempted to open a new bank account. He has been in prison since then.

read: Hashim Amla is to break Virat Kohli's long-standing record in ODIs

During subsequent hearings in the case, the London Court was told that Modi was the "principal beneficiary" of the fraudulent issuance of letters of undertaking (LoUs) as part of a conspiracy to defraud Punjab National Bank.