Former billionaire Nirav Modi loses bid to block extradition in UK's top court
The decision is a boost to India's efforts to get the custody of the infamous fugitive
Former diamond billionaire Nirav Modi lost a bid to ask Britain's highest court to stop his extradition to India, where he is wanted in multiple criminal cases for masterminding one of country's biggest bank frauds.
The ruling leaves Modi with very few options to remain in the UK. The jeweler had earlier sought to halt his extradition citing his mental health and suicide risks.
"The application for permission to appeal to the Supreme Court is refused," Judge Stuart Smith said Thursday. The court also imposed costs of more than Pound150,000.
The decision is a boost to India's efforts to get the custody of the infamous fugitive who became the poster boy for a series of bank frauds over the past decade in the diamond industry in India, which cuts or polishes about 90% of the world's supply.
The Indian government accused Modi of defrauding the country's second largest bank Punjab National Bank of around $2 billion using credit guarantees for his diamonds business. Modi has denied all allegations of wrongdoings and contested his extradition. Anand Doobay, Modi's lawyer, declined to comment.