Photo: The Quint
Economic Offender Nirav Modi Likely To Be Extradited To India
After two years of legal battle, London's Westminster Magistrates' court has ruled that fugitive economic offender Nirav Modi can be extradited to India. Moreover, the court accepted Nirav's involvement in a $2 billion PNB scam and India's argument of him tampering evidence and intimidating witnesses. However, the ruling is yet to be approved by the UK Home Secretary. Currently in London prison, Nirav will be imprisoned in Mumbai's Arthur… read-more
Tags: london, Westminster Magistrates' Court, nirav modi, PNB Scam, Mumbai, Arthur Road Jail
Courtesy: Money Control
Photo: New York Post
Interpol Issues Red Corner Notice Against Nehal Modi
The Interpol has issued a Red Corner Notice to Nehal Modi, younger brother Nirav Modi for cheating while acquiring diamonds worth over $2.6 million. Reportedly, he had defrauded LLD Diamonds USA and had liquidated diamonds to meet his personal and business expenses. Besides to conceal his fraud, he had claimed he was in fiscal trouble. However, Nehal's lawyer has declined the charges and termed it "commercial dispute".
Tags: nirav modi, Nehal Modi, PNB Scam, New York
Courtesy: The Tribune
Photo: The Hindu
Markandey Katju Says Nirav Modi Will be Denied Fair Trial In India
Giving his statement at the hearing of Nirav Modi's extradition case at the London court, Markandey Katju, a former Supreme Court judge, alleged that Nirav Modi would not get a fair trial in India. He said that Nirav had become a 'scapegoat' for the collapse of Indian economy. Calling Ayodhya case judgment as "most shameful verdict in 50 years", Katju alleged that the Indian judiciary has surrendered.
Tags: India, nirav modi, london, Punjab National Bank
Courtesy: The Times Of India
Photo: Scroll
Trials for the Extradition of Nirav Modi to Begin from September 7
Westminster Court will start hearing of 5-day extradition trial against Nirav Modi from September 7. With two extradition requests- by the CBI and ED- filed, the court will look into whether there is a 'prima facie case' of embezzlement and money-laundering. Other offences against him include witness-influencing and evidence-tampering. Jailed since March 2019, he has been refused bail five times. Reportedly, ruling on the case will come in… read-more
Tags: nirav modi, CBI, Enforcement Directorate, london, Money laundering case
Courtesy: Hindustan Times
Photo: Business Today
SEBI to Impound Bank and Demat Accounts of Mehul Choksi: Gitanjali Gems Case
Securities and Exchange Board of India (SEBI) has decided to confiscate the bank and Demat accounts of Mehul Choksi, the owner of Gitanjali group and the company's executive director Dhanesh Sheth. The decision came in after they failed to pay the fine of Rs 5 crore. The fine was imposed on them for violating norms related to listing regulations. SEBI has barred any debit from their accounts until further… read-more
Tags: Mehul Choksi, nirav modi, SEBI
Courtesy: ANI News
Photo: The Indian Express
PNB Recovers Rs 24 Cr from USA in Nirav Modi Scam
Punjab National Bank (PNB) informed the Ministry of Corporate Affairs (MCA) on receiving USD 3.25 million as the first transaction of recoveries in the Nirav Modi case from the USA, the Central Government informed on August 25. The Ministry has initiated proceedings to recover the amount in Nirav Modi and Mehul Choksi scam. PNB has asked MCA to help them in the bankruptcy proceedings in New York.
Tags: nirav modi, Punjab National Bank, USA, Ministry of Corporate Affairs
Courtesy: NDTV
