Fugitive Indian diamond merchant Nirav Modi’s last appeal against extradition to Britain has been rejected.
With this, the way has been cleared to bring Nirav Modi to India.
Nirav Modi fled India in 2018 before details of his alleged involvement in the massive fraud at Punjab National Bank became public.
The accused has argued that there is a risk of suicide if he is extradited.
However, the appeal of Nirav Modi, accused of fraud and money laundering in the Supreme Court of UK, was rejected.
Nirav Modi had fled India when the Punjab National Bank (PNB) scam was unearthed.
Nirav Modi is the prime accused in the Rs 13,000-crore PNB scam.
The Indian authorities have been trying to extradite Nirav Modi from the UK to face charges of defrauding PNB worth Rs 7,000 crore, money laundering and also destroying evidence and intimidating witnesses.
Nirav Modi is the subject of two sets of criminal proceedings in connection with the PNB scam.
The CBI is probing a large-scale fraud upon PNB through the fraudulent obtaining of letters of undertaking (LoUs) or loan agreements while the Enforcement Directorate (ED) is investigating the laundering of the proceeds of that fraud