In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler concluded there were "substantial grounds" to believe that Modi would fail to surrender as he does possess the means to "abscond".
The 61-year-old flamboyant businessman, already out on bail on an extradition warrant executed by the Metropolitan Police earlier this year, was released on the same bail conditions as before to appear for his trial on December 4.
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.
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.
Nirav Modi, wanted in connection with the estimated $2-billion Punjab National Bank (PNB) scam case, was further remanded in custody on Tuesday by a court in London hearing India's extradition request for the diamond merchant. The 49-year-old appeared on Tuesday via videolink from Wandsworth Prison in south-west London, dressed in a maroon sweater and sporting a full beard, for his regular 28-day "call-over hearing" at Westminster Magistrates' Court, where Chief Magistrate Emma Arbuthnot extended his remand for another 28 days until December 29.
The process, to be heard in the Royal Courts of Justice in London, could take months as the listing of a hearing will depend on the availability of judges and other factors.
The European Arrest Warrant on rape charges against Assange was lifted in May last year but Scotland Yard had confirmed a British arrest warrant dating from 2012 remains in place, which they were obliged to execute should the campaigner step out of the embassy.
He appeared via videolink from the prison as his legal team offered a package of "stringent" bail measures, including bail security of 4 million pound, house arrest with a 24-hour electronic tag as well as a private security guard service and a strictly monitored access to gadgets and telephones.
The decision came after a failure to pay long-standing debt, according to reports in the English media.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
"He is expected to be produced before the court for a second bail application hearing on March 29," a court official in London confirmed on Tuesday.
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.
Mallya's defence team is being led by the firm Joseph Hague Aaronson LLP. They have instructed barrister Clare Montgomery, a specialist in criminal, regulatory and fraud law, to argue in court on their behalf.
Chawla was introduced to Hansie Cronje, the late South African cricket team captain, in January-February 2000. It was suggested to Cronje, by Chawla and another person, that he could make significant amounts of money if he agreed to lose cricket matches.
Moti has been described in UK court proceedings as a "senior member" and "top lieutenant" of D Company.
The next phase is when factors such as prison conditions in India are likely to take centre-stage.
'What is the problem in getting the UK to extradite our citizens?' asks Aakar Patel.
'For Mallya, it seems 'the night is dark and full of terrors' and if you believe his lawyers, he's only looking for some sunshine,' says Veer Arjun Singh.
The liquor baron showed up despite being exempt from appearing by the judge at the last hearing on June 13.
The next hearing to assess the progress in the case will be held at Westminster Magistrates' Court on September 14.
Lauding the contribution of non-resident Indians in the development of the country, he said, 'Mahatma Gandhi, Sardar Patel, B R Ambedkar, Jawaharlal Nehru were all NRIs. They travelled the world and helped India with new perspectives.'
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