London, June 12 -- : A UK court here on Tuesday concluded the hearing of the bail plea of fugitive diamond merchant Nirav Modi, who was arrested in March in connection with the USD two billion Punjab National Bank (PNB) fraud case. The court will deliver its ruling at 10 am (local time) on Wednesday.

During the hearing, the Royal Court of Justice said it wanted some time to make a decision.

Clare Montgomery, who is representing Modi in the case, submitted before the court that if her client was granted bail, he would be willing to be tagged through an electronic device so that his movements could be tracked.

"He moved here to raise capital, to explore where in the world he needed to be immigration wise. If he is given bail, he is willing...