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- Indian authorities allege that companies owned by Modi defrauded PNB — India's second-largest public lender — by using forged documents to raise credit to buy and import jewels. Modi, one of the main suspects in the case, fled India in early 2018 before the scandal came to light.
www.dw.com/en/uk-approves-extradition-of-billionaire-jeweler-nirav-modi-to-india/a-57233515
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Sep 15, 2020 · As many as 38 economic offenders who defaulted on repaying borrowed amounts to banks fled the country in a span of five years, starting January 1, 2015 to Dec 31, 2019, under the government’s watch. The government on Monday informed parliament that the 38 wilful defaulters include Vijay Mallya, Nirav Modi and Mehul Choksi.
- India
Nov 9, 2022 · Nirav Modi fled India in 2018 to evade the law days before a case was registered against him and his associates. PNB unearthed the scam on January 25, 2018, and submitted a fraud report to the Reserve Bank of India (RBI) on January 29.
Apr 16, 2021 · The jeweller fled India before details on his alleged involvement in $2.2 billion bank fraud, India's biggest, became public in 2018. The fraud dented confidence in the state banking sector and...
Dealings with Union Bank of India. The Union Bank of India sued Modi in a Hong Kong court. Union Bank claimed in a writ filed at the High Court on 26 September 2018 that Modi guaranteed two loans made to Firestone Trading Private and Firestar Diamond in 2011.
Nov 9, 2022 · Nirav Modi and his uncle Mehul Choksi are accused of routing transactions of about Rs 13,600 crore through fraudulent Letters of Undertaking (LoUs) of Punjab National Bank (PNB). Both of them left India in the first week of January 2018, weeks before the scam was revealed.
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Nov 10, 2022 · Diamond merchant Nirav Modi lost his appeal against extradition to India. However, he still has a few options left before he is brought back to the country to face trial in the Rs 13,758-crore Punjab National Bank (PNB) fraud case.
Nov 9, 2022 · Nirav Modi, the diamond businessman from Gujarat who fled India after allegedly cheating a government bank of over ₹ 11,000 crore, is a step closer to being extradited to India from the UK.
