Who would the neutral 3rd party be? It would still cause the same argument as above. The United States (Afghanistan would say no), China (India would say no), the Commonwealth (Afghanistan isn't a member), the UN (which Afghan government?), etc.
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UN?
Sri Lanka, they could use the help right now.
Sri Lanka hasn't recognized the Taliban government and India would also say no due to the China factor.
No one has yet recognized the Taliban government.
Give it to Bangladesh then.
Pakistan would say no due to strained relations, and state level Indian governments would pressure the federal government to say no due to anti-Bangladeshi sentiment in India (sort of similar to anti-Central American sentiment in the US with an added Islamophobic element or Ethnic element depending on the region) - appearing to vacillate to Bangladesh over what is basically a dumb symbolic issue would piss off voters in very narrow Indian elections.
I see that the Iranian government has also demanded the diamond in the past. Forestalling the diplomatic difficulty of giving it to Tehran, give it to the current Pahlavi claimant in exile, satisfying no one in power and thus the truly neutral solution.
There are pending water issues with Bangladesh like Teesta river, this could be a way to buy them off.
No Indian politician would want to appear to be appeasing Bangladesh would be slammed as anti-Hindu, anti-Assamese, anti-Tripuri, etc depending on the election, especially over an unneccesary symbolic issue like the Kohinoor diamond. And fundamentally, no one actually cares about the Kohinoor diamond conundrum other than a couple chattering class types like Tharoor. The Kohinoor diamond question is basically a microcosm of the larger issues in North India, Pakistan, and Afghanistan that all those central goverment politicians exacerbated or directly caused during Partition, the 1980s Punjab Militancy, the Kashmir exodus, the KPK insurgency, the Afghan Civil War, the ongoing issues in Kashmir, the various Indo-Pak wars, etc.
Release Kashmir as a buffer state and give them the diamond, resolving two international dilemmas with one stone.