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Showing posts with label Nirav Modi. Show all posts
Showing posts with label Nirav Modi. Show all posts

Nirav Modi third time unlucky

Nirav Modi has been denied bail by a UK court for the third time in his extradition case to India. Modi’s lawyer upped the security offer to £2 million and said Indian authorities had seized the diamantaire’s $860 million assets, but that wasn’t enough to assuage the court’s concerns: Modi’s lack of community ties in the UK, the risk that he would tamper with evidence, and reports that he offered employees money to not testify against him. The fugitive diamond merchant will remain in London’s Wandsworth prison till his next hearing comes up on May 30.

Nirav Modi spotted in London by telepgarph reporter

Found freely roaming on London streets, Nirav Modi has changed his looks and cannot be easily recognised. When asked whether he has urged Britain to grant him asylum, Nirav Modi says "no comments".Fugitive billionaire diamantaire Nirav Modi, one of the prime accused in the Punjab National Bank scam, has been tracked down to the United Kingdom.

The Interpol has issued a Red Corner Notice against fugitive billionaire Nirav Modi in the $2-billion PNB fraud

The Interpol has issued a Red Corner Notice against fugitive billionaire Nirav Modi in the $2-billion PNB fraud. That means 192 member countries can now arrest Modi, following which he can be extradited or deported. Earlier, investigative agencies said the jeweller held at least half-a-dozen Indian passports, using which he found his way to Belgium. Modi and his uncle Choksi have refused to return to the country to join the probe citing business and health reasons.

Why is the Quit India movement of rich gaining momentum ?

A billionaire jeweller whose diamonds are worn by top Hollywood stars including Kate Winslet and Naomi Watts is accused of being behind a $1.8billion fraud.

Nirav Modi, one of India's richest men, is said to have fled the country with his diamond merchant business partner Mehul Choksi.

The pair are accused of defrauding the state-run Punjab National Bank (PNB) out of the enormous sum.

It could be  Nirav Modi affect, ED is scanning at least 200 shell firms and "benami" assets  that are probing the Rs 11,400-crore alleged fraud at the Punjab National Bank (PNB).

According to  a story published  in TOI, another defaulter Vikram Kothari, the promoter of Rotomac Pen, has also allegedly gone abroad after swindling Rs 800 crore from various public sector banks including Allahabad Bank, Bank of India and Union Bank of India, sources said.

The Kanpur-based company's owner had taken a loan of more than Rs 800 crore from over five state-owned banks.

New wealth world has reported that 17000 dollar billionairs has left India in last three years, Question is why these people are moving out of India during Narendra Modi's tenure? This is a cause of wory for the economic development of India. 

BJP, Congress blame each other for PNB fraud, trade barbs on Nirav Modi

New Delhi: The Bharatiya Janata Party (BJP) and the Congress on Thursday blamed each other for the Rs11,400 crore fraud case involving the Punjab National Bank (PNB) even as the latter called the scam’s main accused Nirav Modi as “Chhota Modi” sparking condemnation from the ruling party.

Billionaire jeweller Nirav Modi is the main accused in the Rs11,400 crore PNB fraud.

The rival parties also traded allegations over a picture of Nirav Modi with Prime Minister Narendra Modi and a business delegation accompanying him to Davos at the World Economic Forum meet last month.Nirav Modi, who holds an Indian passport, left India on January 1, while his brother Nishal, a Belgian citizen, also left the country on same day. However, whether they travelled together has to be probed, they said.
Nirav Modi's wife Ami, a US citizen, left on January 6 and his uncle and business partner Mehul Choksi, the promoter of Gitanjali jewellery chain, left on January 4, the officials said.

Nirav Modi, who is believed to be in Switzerland, was also present in a group photograph of Indian CEOs with Prime Minister Narendra Modi, issued by the Press Information Bureau, during the World Economic Forum on January 23, six days before the bank sent its first complaint against him to the CBI, according to the officials.