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Bloomberg

Disgraced diamond tycoon Nirav Modi on Monday won his bid to appeal his extradition from the UK to India to face claims he defrauded a major state bank out of billions of dollars, a move his lawyers said would damage his mental health.
An appeal looking at the consequences to Modi’s state of mind is “reasonably arguable”, Judge Martin Chamberlain ruled.
The decision is a blow to the Indian government that is seeking to charge the high-profile businessman on home turf, where Modi’s lawyers had argued he would face an unfair trial.
London judges regularly probe the impact to mental health during extradition proceedings. Julian Assange’s lawyers successfully argued he cannot be sent to the US over concerns he is a suicide risk, according to a January ruling.
Why India struggles to bring its fugitive billionaires to justice
Modi is wanted in Indian court over allegations he defrauded the state-run Punjab National Bank of around US$2 billion.
He was once a jeweller to film stars like Kate Winslet, but his empire came crashing down as allegations emerged of him fraudulently securing guarantees from the state-run lender that were then used to obtain loans abroad.
Modi’s drawn out extradition is the most high-profile since Vijay Mallya, the flamboyant businessman, who lost his appeal against his transfer to India.
Should India successfully get Modi to face the charges, it will be seen as a victory for Prime Minister Narendra Modi whose handling of the coronavirus pandemic has hit his popularity.
Mallya’s bankruptcy casts spotlight on Indian billionaires who’ve gone broke
The businessman’s lawyers argued last month that being sent to India would worsen his suicidal feelings and subject him to terrible conditions in a “Covid-rich prison” in Mumbai. A psychiatrist told the court Modi was at “substantial”, but not immediate, risk of suicide.
A spokesman for India’s external affairs said he did not want to immediately comment on the ruling.
The UK Home Office did not immediately respond to requests for comment. Lawyers for Modi declined to comment.


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India

Indian diamond tycoon Nirav Modi wins bid to appeal extradition from UK

Nirav Modi’s empire came crashing down as allegations emerged of him fraudulently securing guarantees from India’s state-run lender. Photo: SCMP/Felix Wong

Fugitive Indian jeweller Nirav Modi denied bail after his arrest in London

Fugitive jeweller Nirav Modi. Photo: Felix Wong

Fugitive celebrity jeweller Nirav Modi was last seen in Britain in March, Indian authorities say

Nirav Modi

General image of a Nirav Modi jewellery store in Tsim Sha Tsui. 24FEB18 SCMP / David Wong

Indian jeweller Nirav Modi poses during the launch of his store in Mumbai, India, March 14, 2015. Picture taken March 14, 2015. Fotocorp/Handout via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY NO ARCHIVES NO RESALES

India cancels passport of jeweller to the stars Nirav Modi over massive bank scam

Nirav Modi. Photo: SCMP

epa00942440 Australian actor Naomi Watts poses after presenting John Knoll, Hal Hickel, Charles Gibson and Allen Hall their Oscars for Achievement in Visual Effects for 'Pirates of the Caribben: Dead Man's Chest' at the 79th Annual Academy Awards at the Kodak Theatre in Hollywood, California, Sunday 25 February 2007. EPA/PAUL BUCK

Indian billionaire jeweller Nirav Modi seeks asylum in Britain after ‘hiding’ in Hong Kong

Nirav Modi, the billionaire jeweller at the heart of a more than US$2 billion fraud case in India, has fled to the UK. Photo: Handout

Nirav Modi shop is seen at 1881 in Tsim Sha Tsui. High end jewellery retailer Nirav Modi keeps its business going despite controversy surrounding its billionaire founder over a HK$1.3 billion fraud in India. The entrepreneur, whose shops were reportedly shut down last Thursday in India, has three shops in HK and one in Beijing. 24FEB18 SCMP/ David Wong

Netflix vs India’s Bad Boy Billionaires – US streaming giant reveals the truth behind Vijay Mallya, Nirav Modi and Subrata Roy’s fall from grace

To go with story 'India-economy-lifestyle' by Aditya PHATAK (FILES) In this photograph taken on November 29, 2013 Chairman of India's Sahara Group Subrata Roy gestures as he adresses a press conference in Kolkata. They were famed for their jet-set lifestyles and the names of their companies were emblazoned on airplanes, Formula One cars and the shirtfronts of cricket teams. But now the debt-laden empires of three of India's best-known tycoons -- Vijay Mallya, Subrata Roy and T. Venkattram Reddy -- are crumbling before their eyes, downfalls that observers say stem from a climate of weak regulation and deference to conspicuous wealth. AFP PHOTO/Dibyangshu SARKAR/FILES

Founder and Former Chairman of fraud-hit Satyam Computers B. Ramalinga Raju (L) is escorted from Chenchalguda Jail in Hyderabad on April 9,2009, enroute to a court appearance. Indian police investigating a massive false accounting scam at IT giant Satyam Computer have charged its founder-chairman B. Ramalinga Raju with fraud. The Central Bureau of Investigation has been conducting a joint probe with India's market regulator into the billion-dollar scandal, which rocked the Hyderabad-based company in January. Nine people in total have been arrested as part of the investigation, including Ramalinga's brother, Rama Raju, according to prosecutors. AFP PHOTO/Noah SEELAM

Vijay Mallya, founder and chairman of Kingfisher Airlines Ltd., smokes as he leaves after his extradition hearing at Westminster Magistrates' Court in London, U.K., on Wednesday, Sept. 12, 2018. Mallya was arrested on a warrant issued by Indian authorities accusing him of conspiring to defraud India's IDBI Bank through a 91 billion-rupee ($1.4 billion) loan to Kingfisher Airlines Ltd. -- a premium airline he founded in 2005 and shut down seven years later. Photographer: Luke MacGregor/Bloomberg

MUMBAI, INDIA - AUGUST 9: Luxury diamond jewellery designer and founder and creative director of the Nirav Modi chain of diamond jewellery retail stores Nirav Modi at his office in Lower Parel, on August 9, 2016 in Mumbai, India. (Photo by Aniruddha Chowdhury/Mint via Getty Images)

Satyam Computer Services founder B. Rama Raju, centre, arrives at a court in Hyderabad, India, Thursday, April 9, 2015. An Indian court on Thursday convicted Raju, the founder of the outsourcing giant and nine others on charges of stealing millions of dollars in one of the largest frauds in the country's corporate history. (AP Photo/Mahesh Kumar A.)

Sahara Group Chairman Subrata Roy (C) arrives at the Supreme Court in New Delhi, in this file picture taken March 4, 2014. After five months in India's biggest jail, Roy, the owner of the New York Plaza and London's Grosvenor House has been given the use of a 600 square feet (56 square metre) office as he tries to sell the iconic hotels. Indian tycoon Subrata Roy is putting up the two trophy properties and another luxury New York hotel for sale to raise $1.6 billion for the bail bond that will get him out of Tihar, a sprawling New Delhi prison complex that houses about 12,000 inmates. About a minute's walk from the headquarters of the prison, Roy now has an office where he can hold video conferences and receive visitors to try and sell or mortgage the hotels, say prison officials. REUTERS/Anindito Mukherjee/Files (INDIA - Tags: BUSINESS TRAVEL CRIME LAW)

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The jeweller is wanted in India over allegations he defrauded the state-run Punjab National Bank of around US$2 billion
But his lawyers argued that being sent to India would worsen his suicidal feelings and subject him to a ‘Covid-rich prison’ in Mumbai



The jeweller is wanted for allegedly defrauding an Indian bank of US$2 billion, but his lawyers argued that being sent home would worsen his suicidal feelings.


Crime

Millionaires and billionaires

Indian diamond tycoon Nirav Modi wins bid to appeal extradition from UK

The jeweller is wanted in India over allegations he defrauded the state-run Punjab National Bank of around US$2 billion But his lawyers argued that being sent to India would worsen his suicidal feelings and subject him to a ‘Covid-rich prison’ in Mumbai

The jeweller is wanted in India over allegations he defrauded the state-run Punjab National Bank of around US$2 billion

But his lawyers argued that being sent to India would worsen his suicidal feelings and subject him to a ‘Covid-rich prison’ in Mumbai