look news india
Nirav Modi Luxury London Flat Sale: The London High Court has given permission to diamond merchant Nirav Modi, who is fleeing India in a money laundering case, to sell his luxurious flat. Information is being received that this flat is currently with Nirav's family trust. And it is expected to be distributed in 52.5 lakh pounds i.e. about 55 crore pounds.
Nirav Modi's flat is located in McIlbourne area of London. Trident Trust Company (Singapore) also has claim on this flat. This company is the main broker for the sale of flats.
Master Justice James Brightwell presided over the hearing, in which fugitive diamantaire Nirav Modi, 52, lodged in Tameside prison in south-east London, took part online. Advocate Harish Salve, appearing in this case, told the court through ED that he has agreed to sell the flat keeping in mind the interests of the beneficiary (Government of India). According to ED, the loan of Punjab National Bank (PNB) will be repaid from the money received from the sale of this flat.