Page 3 - Nirav Modi

Wilful loan defaults grow 10 times since 2012 to Rs 2.4 trn: Report

These defaulters have the capacity to repay their loans but choose not to do so, says a report

List of fugitive economic offenders in India does not end with Vijay Mallya

In reply to Lok Sabha in 2020, SP Shukla said 72 Indians charged with financial irregularities have been living abroad. The list includes names like Nirav Modi, Mehul Choksi and Lalit Modi

UK High Court hears Nirav Modi's plea against extradition to India

The 51-year-old diamond merchant had lodged an appeal last year against his extradition order on mental health grounds.

Nirav Modi extradition appeal to be heard in UK High Court on June 28

The 51-year-old diamond merchant had lodged an appeal against his extradition order on mental health grounds

Choksi pledged diamonds with inflated valuation to get Rs 25 cr loan: CBI

The CBI has filed a fresh case against Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery

Johnson says UK doesn't welcome economic fugitives like Nirav, Mallya

'We don't welcome people who want to use our legal system to evade the law here in India,' the British Prime Minister asserted

Nirav Modi's sister seeks ED intervention in IBC proceedings against him

Nirav Modi, the main accused in the Rs 13,000 crore Punjab National Bank (PNB) scam, was declared a Fugitive Economic Offender in December 2019.

PNB case: Deported official of Nirav Modi's firm remanded in CBI custody

Parab was deported to India from Cairo in Egypt earlier in the day, as per the Central Bureau of Investigation (CBI) officials

Key official of Nirav Modi firm deported to India from Egypt: Officials

Subhash Shankar Parab was the Deputy General Manager (Finance) in Firestar Diamond

Assets worth Rs 19,111.20 cr of Vijay Mallya, Nirav Modi, Choksi attached

The government on Tuesday said assets worth Rs 19,111.20 crore relating to fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, have been attached so far. In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said that the three fugitives have defrauded public sector banks by siphoning off funds through their companies resulting in total loss of Rs 22,585.83 crore to the lenders. "... as on March 15, 2022, assets worth Rs 19,111.20 crore have been attached under the provisions of PMLA (Prevention of Money Laundering Act)," he said. Out of Rs 19,111.20 crore, assets worth Rs 15,113.91 crore has been restituted to the public sector banks. In addition, the minister said assets worth Rs 335.06 crore have been confiscated to Government of India. "As on March 15, 2022, 84.61 per cent of the total defrauded funds in these cases have been attached/seized and 66.91 per cent of total loss to the banks has been handed over to banks/confiscated to Government of

'Rs 19,111-cr assets attached out of total fraud by Mallya, Nirav & Choksi'

These figures were mentioned in the note submitted by Tushar Mehta in the SC, which is hearing arguments on a batch of petitions concerning the interpretation of certain provisions of PMLA

Rs 18k cr returned to banks from Mallya, Nirav and Choksi: Centre tells SC

Solicitor General Tushar Mehta informed the Supreme Court that Rs 18,000 crore have been returned to the banks in the case of Vijay Mallya, Nirav Modi, and Mehul Choksi.

Pen King's death and the misfortune of 'monarchs' in Indian business

Popular discourse is quick to crown as kings people who achieve so much success that it feels inadequate to describe them as successful.

India govt's efforts to extradite businessmen yield limited results in 2021

As 2021 draws to a close, the Narendra Modi governments efforts to extradite Indian businessmen from Britain for alleged fraud against Indian banks are yet to materialise.

'Banks recover Rs 13k cr from asset sale of defaulters like Mallya, Nirav'

FM Sitharaman said this while replying to a discussion on the second batch of Supplementary Demands for Grants which was approved by the Lok Sabha

UK court hears Nirav Modi's extradition appeal on mental health grounds

Lord Justice Jeremy Stuart-Smith and Justice Robert Jay presided over the hearing at the Royal Courts of Justice

UK court begins hearing Nirav Modi's appeal against extradition to India

Earlier this August, Nirav Modi was granted permission to appeal against his extradition from the UK to India to face fraud charges on the grounds that a return to India would harm his mental health

Nirav Modi UK extradition appeal to be heard on December 14

Nirav Modi, the fugitive diamond merchant wanted in India to face charges of fraud and money laundering in the estimated USD 2-billion Punjab National Bank (PNB) scam case, has lodged his appeal against extradition from the UK and the case will be heard at the High Court in London on December 14. The 50-year-old jeweller, who remains behind bars at Wandsworth Prison in south-west London since his arrest in March 2019, was granted permission to appeal against the Westminster Magistrates' Court extradition order on mental health and human rights grounds. High Court judge Martin Chamberlain had ruled on August 9 that arguments presented by Modi's legal team concerning his severe depression and high risk of suicide were arguable at a substantial hearing. "This case is fixed for a one-day hearing on 14th December, a High Court official said, in reference to the substantial hearing. The UK's Crown Prosecution Service (CPS), which represents the Indian authorities in court, confirmed it w

US court junks Nirav Modi's plea seeking dismissal of fraud allegations

A bankruptcy court in New York has dismissed a petition of fugitive of diamond merchant Nirav Modi and his associates, seeking dismissal of fraud allegations against them. The allegations were made by Richard Levin, the court appointed trustee of three US corporations--Firestar Diamond, Fantasy Inc and A Jaffe--indirectly owned by Nirav Modi previously. Levin had also sought a minimum compensation of USD 15 million for harm suffered by the debtors of Modi and his associates Mihir Bhansali and Ajay Gandhi. Southern District of New York Bankruptcy Court Judge Sean H Lane issued the order last Friday, in a major blow to the Indian fugitive and his accomplices. ' SDNY Bankruptcy Court Judge Lane in a clear decision denied defendants Modi, Bansali and Gandhi's motions to dismiss US Trustee Richard Levin's amended complaint in the adversary proceeding arising out of Modi's initial chapter 11 bankruptcy petition, alleging fraud, breach of fiduciary duties, RICO and related state law claim

Web series on fugitive businessman Nirav Modi is in development

A web series about the fugitive diamond dealer Nirav Modi is in the works.