Fugitive diamond merchant Nirav Modi, who facing deportation for trial on charges of fraud and money laundering in India, has said he does not have any money and is borrowing money to cover the court-mandated legal expenses, which exceed 150,000 pounds, according to a report in the media.

After losing his legal fight in the UK's highest court to avoid extradition to India in connection with the Punjab National Bank (PNB) loan scam, the 52-year-old former billionaire now faces a statute barred, which suggests additional unresolved legal proceedings, the report said.

The scam is estimated to involve around USD 2 billion.

Meanwhile, Nirav remains behind bars at Wandsworth Prison in south-west London, from where he appeared via videolink for a hearing at Barkingside Magistrates' Court in east London on Thursday over unpaid legal costs, or fines, of 150,247 pounds ordered by the High Court in London, related to his extradition appeal proceedings, according to the report.

During a procedural hearing for court fines, Nirav Modi's plea to pay 10,000 pounds per month was granted by magistrates. A review hearing will take place in six months.

When questioned about how he would fund the monthly payments, Nirav stated that he had been borrowing money since his assets were frozen in India during the extradition proceedings, the report added.

In December 2021, the Royal Courts of Justice in London rejected Nirav Modi's appeal to the Supreme Court on suicide risk grounds and to certify a point of law, effectively exhausting his extradition appeal options in the UK courts.

However, UK Home Office sources have indicated that this case may still be subject to further litigation, potentially involving a confidential political asylum appeals process.

In a final extradition appeal hearing held in November 2022, Justices Jeremy Stuart-Smith and Robert Jay ruled that they were not convinced that Modi's mental state and risk of suicide would make it unjust or oppressive to extradite him.

The verdict also acknowledged India's assurance to provide appropriate medical care to Nirav after he is extradited and held at Barrack 12 of Arthur Road Jail in Mumbai.

Nirav Modi's appeal was rejected after a period of three years after his arrest in March 2019, when he was apprehended based on an extradition warrant due to the charges levied by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) against him.

Nirav Modi is facing three different criminal proceedings in India. The first case pertains to fraud against Punjab National Bank (PNB) that has caused losses exceeding 700 million pounds.

The second case relates to the alleged laundering of the proceeds from the PNB fraud, and the third case involves accusations of tampering with evidence and witnesses in relation to the CBI proceedings.