Fugitive Indian diamond merchant Nirav Modi has claimed that he does not have money and will have to borrow money to pay the fine awarded by a UK court. Last year, he lost his legal battle in the UK’s highest court against being extradited to India in the $2 billion Punjab National Bank (PNB) loan scam.
Currently, Nirav Modi is in Wandsworth prison in south-west London, but his case is now said to be “statutory barred”, indicating further pending litigation. On Thursday, he appeared via videolink for a hearing at Barkingside Magistrates’ Court in east London over unpaid legal costs, or fines, of 150,247 pounds ordered by the High Court in London.
According to reports, Nirav Modi has said that he lacks funds to pay court-ordered legal fees, which exceed 150,000 pounds (₹1,48,05,222), and is currently borrowing money . During his appearance in the court, he informed the court that he had to borrow money as his property was confiscated by the Government of India and he did not have enough money.
In December of last year, Nirav Modi’s request for permission to appeal to the Supreme Court on the grounds of suicide risk was rejected by a two-judge bench at the Royal Courts of Justice in London. Furthermore, his application to certify the point of law was also rejected, effectively closing his extradition appeal options in the UK courts.
During the final extradition appeal hearing at the London High Court in November 2022, Justices Jeremy Stuart-Smith and Robert Jay concluded that Mr Modi’s mental state and suicide risk were not reasons to prevent his extradition, as they were not convinced that It would be unjust or oppressive. In addition, he accepted the Indian government’s assurance of providing adequate medical care to Nirav after he was extradited and detained at Barrack 12 of Arthur Road Jail in Mumbai.
Nirav Modi’s appeal was rejected three years after he was taken into custody in March 2019. He was taken into custody on an extradition warrant because of the charges leveled against him by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED). The businessman is facing three separate criminal proceedings in India. These include the CBI’s fraud case against PNB that caused losses of over £700 million, the ED’s case relating to the alleged laundering of proceeds of that fraud, and a third set of criminal proceedings relating to interference with evidence and witnesses. relates to the claims of CBI case
Nirav Modi is in jail as he was arrested on an extradition warrant in March 2019 based on allegations by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) for his alleged involvement in the $2 billion Punjab National Bank (PNB) loan default. Was. scam.