Despite banks blowing the whistle on bad loans, the Nirav Modi show goes on

Just about a week ago, diamond jeweller Nirav Modi opened a new store in Macau. Barely three months ago, he had opened a second store in DLF Emporio’s Chanakya mall in New Delhi, with plans for another one, in Bengaluru, later this year. 

Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies. His website is running Valentine’s Day promotions beside pictures of Hollywood celebrities wearing his jewellery and details of the fashion shows he sponsored recently. 

Modi’s ambition was to expand to 100 stores by 2020, not