look news india
Permission to sell Nirav Modi London luxury flat: The court has given permission to sell the luxurious bungalow of PNB scam accused Nirav Modi in Marylebone, Central London. During the hearing, Justice Master James Brightwell said that the bungalow cannot be sold for less than 5.25 million British pounds (about Rs 55 crore). Nirav Modi's luxurious bungalow, which has been ordered to be sold by the London High Court, was given to a trust in 2017.
The bank loan will be repaid after receiving the bungalow amount.
Nirav Modi is currently imprisoned in Britain's Thameside Jail. Barrister Harish Salve appeared on behalf of ED in this case. While Nirav Modi was currently lodged in Britain's Thameside jail, he was connected online. Singapore company Trident Trust is also a claimant in this case. The company also sought to sell 103 Marathon Houses. On the other hand, the ED's contention is that the proceeds from the sale of these bungalows should be used to repay the loan of Punjab National Bank as the trust properties were purchased with the proceeds of a large-scale fraud at Punjab National Bank.
What was the whole matter?
Nirav Modi is the mastermind of the PNB scam and the main accused in the money laundering case. Apart from this, ED and CBI have also registered many cases against him. She is also trying to bring Nirav Modi to Delhi. In the year 2018, he got Rs. He took a loan of Rs 14 thousand crores and fled to Britain without repaying it. After this the bank registered a case of fraud against him. He was arrested in the year 2019. In 2021, the then British Home Minister Priti Patel ordered the extradition of Nirav Modi in the case. In 2022, Nirav Modi also lost the case in the Supreme Court. The matter is currently in the London High Court.