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LONDON, March 10 (PTI) – Fugitive diamond dealer Nirav Modi, wanted in India for trial on fraud and money laundering charges, claims he has no funds and is resorting to the law by borrowing money to pay court orders Fees, amounting to more than 150,000 pounds.
The 52-year-old former billionaire lost a case in the UK Supreme Court last year against extradition to India in an estimated $2 billion Punjab National Bank (PNB) loan fraud case. But his case is now said to be “prohibited by law”, suggesting there is further pending litigation.
Meanwhile, Nirav, who remains at Wandsworth Prison in south-west London, appeared via video link at a hearing at Barkingside Magistrates Court in East London on Thursday after the High Court ordered non-payment of legal costs or a fine of £150,247 in London, In relation to his extradition appeal process.
The magistrate granted his request at a court fines proceedings hearing, allowing him to pay £10,000 a month until a review hearing in six months, according to officials.
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Asked how he planned to pay his monthly fees, Nirav told the court that he had been borrowing money because he did not have enough funds as his assets were frozen in India due to extradition proceedings.
In December, two judges at London’s Royal Court rejected Nirav Modi’s application to appeal to the Supreme Court on the grounds of suicide risk and also rejected his application to prove points of law, which An appeal option ended his extradition in a UK court.
Home Office sources said the case was likely to be subject to further proceedings, which could indicate a parallel confidential asylum appeals process.
At the final extradition appeal hearing in the case in the High Court in London in November 2022, Judges Jeremy Stewart-Smith and Judge Robert Jay ruled that they were “far from satisfied that Mr Modi’s mental condition and suicide risk were so high.” It would be unjust or oppressive to extradite him.”
Their judgment also acknowledged that the Indian government would treat Nirav’s guarantee of healthcare after his extradition and incarceration at Barrack 12 of Mumbai’s Arthur Road Prison with “appropriate seriousness”.
The appeal was dismissed three years after Nirav Modi was arrested on an extradition warrant in March 2019 following charges against the businessman by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
There are three sets of criminal proceedings against the diamantaire in India – a CBI fraud case against PNB that resulted in losses of over £700m, an ED case involving alleged laundering of the proceeds of the fraud and a third set involving alleged interference in CBI proceedings Evidence and witnesses in criminal proceedings.
The then UK Home Secretary, Priti Patel, ordered Nirav’s extradition based on an April 2021 ruling by Judge Sam Goozee at Westminster Magistrates’ Court.
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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