nirav modi
Nirva Modi during the inauguration of Nirav Modi Jewellery shop in Mumbai on March 14, 2015.IANS [Representational Image]

The fugitive diamantaire Nirav Modi's bail application has been denied by the Royal Courts of Justice in London on Wednesday, June 12.

According to the reports, the Royal Courts judge said that there is substantial ground to believe that Nirav Modi will fail to surrender if granted bail.

This is the fourth time Modi's bail has been rejected after being denied bail thrice by the London's Westminster Magistrates Court which was hearing India's request for his extradition to face major charges of financial fraud.