Who does not know the name of fugitive diamond merchant Nirav Modi… Nirav Modi was once counted among the richest businessmen of India and all the famous Bollywood actors were associated with his jewelry brand. However, his condition is not very good right now. On one hand they have to spend life in jail and on the other hand their bank accounts are getting empty.
Crores of rupees were transferred from here
According to reports, Nirav Modi, who once had assets worth billions, now has only Rs 236 left in his bank account. According to reports, this amount is in the bank account of Nirav Modi’s company Firestar Diamond International Private Limited. This amount remains after Kotak Mahindra Bank transferred Rs 2.46 crore to SBI’s bank account in respect of income tax dues. According to a Times of India report, Union Bank of India and Bank of Maharashtra have transferred only a fraction of the total outstanding amount.
the court ordered
The court has appointed a liquidator for Firestar Diamond International Pvt Ltd under the Fugitive Economic Offenders Act in the Nirav Modi fraud case. Punjab National Bank through the liquidator had requested to transfer the amount to the bank account of the company. The court had asked Union Bank of India and Bank of Maharashtra to transfer the money. However, both the banks did not comply with the court order.
loan in progress
These three cases on Nirav Modi
Nirav Modi is facing three criminal cases in India. The first case is related to fraud with Punjab Nation Bank. In this, the government bank suffered a loss of thousands of crores. The second case pertains to money laundering of money obtained by cheating Punjab National Bank. The third case pertains to tampering with evidence and influencing witnesses related to CBI proceedings.