India, May 15 -- A UK court on Thursday rejected a bail petition filed by Nirav Modi, who has been in prison in London for nearly six years after losing his extradition battle to face fraud and money laundering charges in India.

The Central Bureau of Investigation (CBI) said that the fresh bail petition filed by Nirav Modi was rejected today by the High Court of Justice, King's Bench Division, London.

"The bail arguments were strongly opposed by the Crown Prosecution Service advocate who was ably assisted by a strong CBI team consisting of investigating and law officers who travelled to London for this purpose," the CBI said, according to ANI.

Nirav Modi is the prime accused in the Rs.13,850 crore fraud at Punjab National Bank was decl...