Mehta is in a legal bid to unfreeze $900m assets. Jatin Mehta, a fugitive diamondmerchant from India, has appeared in court in Britain with the intention of contesting the freezing of his assets.
He is accused of defrauding fifteen lenders out of a total of more than one billion dollars that was loaned to his companies Winsome Diamondsand Jewellery Ltd and Forever Precious Diamonds & Jewellery Ltd in 2013.
At the beginning of this year, it was discovered that Mehta and his family were residing in London, despite having been granted citizenship of St. Kitts and Nevis, a country that does not have an extradition arrangement with India.
In May, the High Court in London placed a freeze on their assets, which were estimated to be worth 932 million pounds.
According to a report by Bloomberg News, attorneys for Mehta (pictured) asserted last week that the Indian unit of Standard Chartered Plc and the accountancy firm Grant Thornton had used "sleight of hand" to obtain the freezing order.
The judge has not yet rendered a decision on the case.