Last year, Nirav lost his legal battle in the highest UK court against being extradited to India in the estimated USD 2 billion Punjab National Bank (PNB) loan scam case. But his case is now said to be "statute barred", indicating further pending litigation which could be linked to a confidential asylum application.
The jeweller, who fled India in 2018 before details of his alleged involvement in large-scale fraud at the Punjab National Bank became public, has argued there is a high risk of suicide if he is extradited.
Nirav Modi and Mehul Chkosi are two prime accused in the multi-crore bank fraud case. They are facing a probe by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).