Thai authorities will submit a judicial verdict in a local bank fraud case to a Canadian court for the extradition of Indian-born Rakesh Saxena from Canada to Thailand to stand trial for his alleged role in the Thai bank's failure.

Thailand's Attorney General announced this after a Bangkok criminal court on Wednesday announced guilty verdicts against former senior officials of the failed Bangkok Bank of Commerce to which Saxena was a financial advisor.

Former BBC president Krirkkiat Jalichandra, along with three former BBC officials, was found guilty of colluding with Saxena in cheating the bank, which led to its collapse just before Thailand's financial crisis in mid-1997.

Saxena, who left Thailand in 1996, is currently living under self-financed house arrest in Vancouver, Canada.

In September 2000, a lower court in Canada had ruled that Saxena be extradited to Thailand, but the Canadian government did not endorse the extradition till November 2003. Saxena, subsequently, appealed against the ruling.