A London High Court has ordered fugitive diamantaire Nirav Modi to pay Bank of India over $10.7 million (approx. Rs 100 crore). The judge found Modi liable under a personal guarantee for a loan to his company, rejecting his defenses. Modi is currently in UK custody for a separate fraud case.
A London high court judge ruled fugitive diamond businessman Nirav Modi owes Bank of India over $10.7 million. The court found Modi liable under a personal guarantee for a $4.1 million loan to his company, plus interest, rejecting his defense that the guarantee was unenforceable.
A Mumbai CBI court transferred a Rs 321.88 crore fraud case against Nirav Modi to a magistrate's court. The CBI stated corruption charges against PNB officials could not be proven, so the case will proceed against private individuals only.
Christian Michel's son, Alois, is urging India to release his father, who has been jailed for over seven years in the AgustaWestland scam. Alois claims India is violating its own extradition laws by adding new charges, unlike the treatment promised to Nirav Modi.
