A London courtroom on Wednesday rejected an attraction from Indian billionaire Nirav Modi in opposition to his extradition from the UK to India to face costs of fraud and cash laundering.

British police arrested the diamond vendor in 2019 in London over his alleged involvement in a financial institution fraud that could possibly be price $2 billion.

Modi’s attorneys final yr challenged a courtroom order permitting the British authorities to extradite the fugitive businessman, citing his psychological well being and danger of suicide.

London’s Excessive Courtroom dismissed the attraction on Wednesday, saying Modi’s danger of suicide doesn’t rule out his extradition.

Justice Jeremy Stuart-Smith, one of many two judges, stated that they have been “removed from glad that Mr Modi’s psychological situation and the chance of suicide are such that it will be both unjust or oppressive to extradite him,” based on the courtroom ruling.

“On the premise of the assurances that the (Indian authorities) has given, we settle for that there will likely be appropriate medical provision and an acceptable plan in place for the administration and medical care of Mr Modi, which will likely be offered within the data that he’s a suicide danger,” the judges stated.

Modi’s alleged fraud first got here to mild in 2018 when Punjab Nationwide Financial institution, one among India’s largest banks, reported fraudulent exercise at one among its branches.

India then issued an Interpol Pink Discover for Modi’s arrest and London authorities have been requested to execute it. The Indian overseas ministry stated in a press release on the time that it welcomed the arrest, and would search to extradite Modi as quickly as potential.

Modi and officers on the financial institution allegedly issued fraudulent Letters of Undertakings to abroad banks to acquire purchaser’s credit score, based on India’s Central Bureau of Investigation (CBI).

Forbes as soon as ranked Modi as India’s eighty fifth richest man, with a web price of $1.8 billion.

CNN has reached out to his lawyer after the courtroom’s resolution on Wednesday however is but to listen to again.

Modi, who stays at Wandsworth Jail in London, can problem Wednesday’s courtroom ruling on the UK Supreme Courtroom.

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