The 48-year-old's defence team, led by barrister George Hepburne Scott, told the court about the existence of the multiple travel documents during his plea for bail, which was rejected by District Judge Marie Mallon.
According to investigating officials, Modi had left India on January 1, 2018, much before the CBI received a complaint from Punjab National Bank (PNB) on January 29, 2018, about the fraud. Similar efforts are on to bring back Nirav Modi's uncle Mehul Choksi as well. After his custody is over, Nirav Modi will be produced before chief magistrate Emma Arbuthnot, the same judge who oversaw the Vijay Mallya trial.
This is a big move for India who is working hard to extradite him to the country.
"We do object to bail because there are substantial grounds to believe the requested person (Modi) would fail to surrender", said Barrister Jonathan Swain, appearing for the CPS. Nirav Modi continues to figure in Interpol's wanted list on its website.
Modi, dressed in a plain white shirt and pants, appeared in the dock where he spoke only to confirm his name and also to formally decline consent to be extradited to India.More news: Federal Bureau of Investigation joins probe into Boeing 737 MAX certification process
Modi, accused of involvement in a massive bank fraud that rocked India's corporate community, was arrested in the British capital on Tuesday.
Nirav's whereabouts was a hot button issue in India, he was reportedly arrested because he was trying to open a bank account. Ministry of External Affairs (MEA) Spokesperson Raveesh Kumar said India continues to follow this matter with the United Kingdom to extradite Modi.
Both left India in January a year ago before the CBI started investigating the PNB scam. "In a related development, the special court also allowed sale of 11 vehicles belonging to Mr Nirav Modi on an application by the ED". The scam accused was remanded to custody till March 29th.
Both Modi and Choksi fled the country before details of the case emerged, and have denied wrongdoing, Reuters added. The duo face allegations of defrauding the Punjab National Bank of Rs 13,578 crore in issuance of letters of undertaking and foreign letters of credit on the basis of alleged fabricated documents.