Nirav told the court he had been borrowing money as he did not have sufficient funds because his assets had been frozen in India over the extradition proceedings
London: A British court on Tuesday opened the continuation appeal hearing in the extradition case of Nirav Modi, who is wanted in India on the charges of fraud and money laundering amounting to an estimated USD 2 billion in the Punjab National Bank (PNB) loan scam case. The 51-year-old diamond merchant had lodged an appeal […]
By B Yerram Raju The history of economics of nations reminds us that every nation on its growth trajectory found corruption, frauds, scams and unethical practices. Those that crossed these barriers through smart surveillance grew fast and big. However, in democracies like India, where people did not find the money for two-and-a-half centuries of British […]
Mumbai: A web series about the fugitive diamond dealer Nirav Modi is in the works.Nirav is wanted in India for allegedly defrauding Punjab National Bank (PNB) out of an estimated USD 2 billion. He was arrested in March 2019 and has been held in the Wandsworth prison in south London. Now Abundantia Entertainment has acquired […]
Justice Martin Chamberlain delivered his verdict to conclude that the arguments presented by the Nirav's legal team concerning his “severe depression” and “high risk of suicide” were arguable at a substantial hearing.
Modi's lawyer Edward Fitzgerald, in an application to the High Court stated that Modi was "severely depressed" and asked that the extradition be blocked on mental health grounds.
The special court had in December 2019 declared Nirav Modi a fugitive economic offender, on a plea of the Enforcement Directorate (ED), which is conducting a probe into the case.
The book, by London-based journalists and researchers Danish and Ruhi Khan, includes a recap of the more recent cases involving former Kingfisher Airlines boss Vijay Mallya and diamond merchant Nirav Modi.
According to CBI officials, prior to this, the bail applications of Nirav Modi has been rejected six times, four by the District Judge and twice by the High Court.