A London court was informed by Nirav Modi, the accused of fraud at Punjab National Bank, that he anticipates staying in England for several months or even years, and that "proceedings are still ongoing that prevent his extradition to India." The 52-year-old diamond merchant was making an appearance before Barkingside Magistrates’ Court in East London for a reexamination about a fine of £150,247 that he owes for failing to pay costs during his unsuccessful extradition appeal hearing.
Nirav made his appearance via video link from HMP Thameside. He informed the magistrates that he could pay the fine each month with £10,000, according to an order he had received dated December 2022. The court verified that he had paid £80,000 and that £70,247 was still owed.
Nirav had told the court in March that he was “borrowing the £10,000” from prison. He was refused permission to appeal his extradition at the Supreme Court in December 2022, meaning he should have been extradited within 28 days of that date, but he has still not gone back. When the magistrate asked him why he was in prison, he said it was “because of an extradition request by the Indian government”. When asked if he knew when his situation would get reviewed, he replied: “...It is very likely I will be in England for a long time, at least three to six months, and could be years.”