During the course of the hearing last month, it emerged that Modi had made death threats to witnesses and also attempted to destroy evidence such as mobile phones and a server holding "material critical to the fraud".
The judge confirmed that the bulk of the evidence submitted by the Indian authorities will be admissible
Market players said NBFCs and HNIs are recalibrating their plans based on the changing dynamics.
Speaking to reporters Mallya said, "It will all become clear in court".
The trial, which opened at the London court on December 4, is aimed at laying out a prima facie case of fraud against the 61-year-old embattled businessman, who has been based in the UK since March 2016.
In a major blow to Nirav Modi, a bankruptcy court in the US has rejected a petition of the fugitive diamond merchant and two of his associates, seeking dismissal of fraud allegations against them by the trustee of three companies they previously owned indirectly.
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
Mallya, who has been out on bail since Scotland Yard executed an extradition warrant in April this year, will be in the dock for the duration of the trial -- scheduled to end on December 14.
The United Kingdom is considering prosecuting 11 people including four journalists in connection with the phone-hacking scandal and other alleged misconduct by British newspapers, the country's chief prosecutor said on Wednesday.
Most of the legal cases in the UK are switching to videolink and telephonic options where possible, with all new jury trials suspended amid the social distancing rules in place to combat the COVID-19 pandemic.
Chelsea and England soccer captain John Terry pleaded not guilty on Wednesday to a charge of racially abusing opponent Anton Ferdinand during a Premier League match in October.
'The appellant (Mallya) has five business days to apply for oral consideration. If a renewal application is made, it will be listed before a high court judge and dealt with at a hearing,' a spokesperson for the UK judiciary said.
The UK Home Secretary will have to sign Mallya's extradition order within two months. However, Mallya's defence team has a chance to appeal in higher courts in the UK against the verdict.
The 49-year-old jeweller, who has been lodged at Wandsworth Prison in south-west London since his arrest in March last year, appeared via videolink for the remand hearing at Westminster Magistrates' Court in London.
Modi wanted in India for an alleged Rs 13,500 crore Punjab National Bank fraud arrived in London earlier this year on an Indian passport.
Justice Ingrid Simler at the Royal Courts of Justice in London concluded the hearing and said as the matter was of "some importance", she would take some time to consider it and hand down her ruling on Wednesday.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
Westminster magistrates' court judge Nina Tempia confirmed that Modi's extradition trial is scheduled between May 11 and 15 next year and that he must re-appear via videolink every 28 days for "call-over hearings" until the case management for the trial kicks in from February next year.
Following the directive of the Sindh High Court (SHC), Pakistan discard Danish Kaneria, on Tuesday, was left with little choice but to give a go ahead to the PCB to obtain the transcript of his session with the Essex police in connection with the spot-fixing.
The 48-year-old, who has been lodged at Wandsworth prison in south-west London, appeared via videolink from prison before district judge David Robinson. "I am told that your case is proceeding in accordance with the directions for a final hearing on 11 May," the judge told Modi, as he set the next 28-day remand hearing via videolink for February 27. Modi's extradition trial is scheduled for five days starting May 11, with the case management hearings in the case set to begin once all the evidence has been handed in to the court for the trial.
British magistrate presiding over Mallya extradition case says India's prison standards are not up to the mark
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
Former Mumbai Police Commissioner Julio Ribeiro has dashed off a letter to the Maharashtra government expressing surprise over the appointment of four "tainted" senior Indian Police Service officers to key posts. The letter, addressed to Home Minister R R Patil, not only questions the appointment of Himanshu Roy, Ramrao Pawar, Deputy CPs Ajit Patil and Sanjay Banerjee.
Modi is subject to two sets of criminal proceedings, the first brought by the CBI relating to a large-scale fraud said to have been committed upon PNB and the ED case, relating to the laundering of the proceeds of that fraud.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
Ben Stokes was named in England's Twenty20 squad for a tri-series against Australia and New Zealand on Monday, his participation dependent on whether he is charged for his involvement in an altercation outside a nightclub in September.
Former Essex County cricketer Mervyn Westfield has been charged with 'conspiracy to defraud' for his role in an alleged rigged County match last year
He claims that his offer to pay back the debt owed by his now-defunct airline had been rebuffed by the banks and the Indian government.
UK awaits final court orders to extradite Sanjeev Chawla to India
British prosecutors will not charge Brazil forward Robinho over an allegation the Manchester City player committed a serious sexual assault at a nightclub in northern England, police said on Monday.
Faced with a tight monetary situation, the Reserve Bank of India (RBI) has sought data from the mutual funds on their debt investments. These include investments in certificate of deposits (CDs), pass-through certificates (PTCs) and commercial papers (CPs).
The ED officer will carry the latest charge sheet filed by the agency against Modi's wife Ami and the recent attachments made by it in the case.
Mallya has an automatic right to appeal in the UK High Court against the Chief Magistrate's order but is yet to confirm if he plans to do that.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
NDTV operates news channels, including NDTV 24X7 and NDTV India.
Similarly, the state-owned corporation has subscribed to NCDs worth around Rs 20,000 crore (Rs 200 billion) this year, with nearly Rs 12,000 crore (Rs 120 billion) flowing into these instruments over the last three months when the global credit crisis intensified.
The 63-year-old former Kingfisher Airlines boss, an avid cricket fan, is wanted in India on fraud and money laundering charges amounting to an alleged Rs 9,000 crores.
About 800 Indian workers of three Sharjah-based companies called off their strike today after the intervention of Indian Consulate here to address their various grievances.\n\n
Prohibitory orders imposed under Section 144 of the CrPC will be relaxed for a total of 10 hours on Friday in view of improvement in the situation, the ministry said.
The charges against the diamond merchant centre around his firms Diamonds R Us, Solar Exports and Stellar Diamonds making fraudulent use of a credit facility offered by the Punjab National Bank, known as 'letters of undertaking'.
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