Nirav Modi, wanted by India in fraud and money laundering charges amounting to nearly USD 2 billion, on Friday applied for bail in the UK High Court.

Modi was on Thursday remanded till June 27 by a UK court, which directed the Indian government to confirm within 14 days which prison he is to be held in if he were to be extradited.

The 48-year-old is wanted in India to face charges of fraud and money laundering amounting to nearly USD 2 billion in the Punjab National Bank (PNB) case.

Modi was arrested by uniformed Scotland Yard officers on an extradition warrant from a Metro Bank branch in central London on March 19 and has been in prison since.

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