(IDEX Online) - Fugitive diamond billionaire Nirav Modi has suffered another blow in his legal bid to avoid extradition to India over an alleged $1.85bn fraud.A British court ruled that it would hear evidence against Modi from the Indian government, dismissing his lawyer's claim argument that it was not admissible.Modi, 49, (pictured) was India's most wanted man until he was arrested in London in March 2019, and has been on remand in the capital's Wandsworth Prison ever since.He is accused of fraudulently using letters of undertaking offered by the Punjab National Bank (PNB). He allegedly persuaded corrupt bank workers to approve low-rate loans for importing foreign goods, which he used to pay off debts.Closing submissions are due to be made at Westminster Magistrates Court on January 7 and 8 and the judgement as to whether or not he is extradited is expected a few weeks later.