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Nirav Modi's solar power plant up for
auction to salvage PNB dues

Los Angeles, Sep 27, 2023 A.Gary Singh

The Debt Recovery Tribunal-I here has put up a solar power plant belonging to a group entity of the absconder diamantaire Nirav D. Modi to try and recover a tiny portion of the whopping dues of over Rs 2,348-crore.

The solar power plant, with a capacity of 5.247MW is situated at Khandale village in Karjat Taluka of Maharashtra’s Ahmednagar district, and along with the plant and machinery, the solar plant is valued at Rs 12.40-crore.

The auction ordered by the DRT-I Recovery Officer Ajeet Tripathi on September 21 makes no mention of the revenues assessed on the property, whether it has any encumbrances or faces any claims, or any other details.

Besides, also going under the hammer for at least the third time is Nirav D. Modi’s posh flat in the fashionable Pedder Road area of south Mumbai. The flat is on the second floor of Grosvenor Building, and proposed to be auctioned off as a fully furnished residence along with two parking lots, all collectively valued at Rs 11.70-crore.



2-billion Punjab National Bank  Cheater Nirav Modi’s
extradited may be high…..  UK Supreme Court

Los Angeles, Dec 15, 2022 A.Gary Singh

Nirav Modi who charged of fraud and money laundering in the estimated USD 2-billion Punjab National Bank (PNB) scam in India,  lost a bid to take his fight against extradition to India as the High Court in London denied him permission to appeal against his extradition order in the UK Supreme Court.
The judge said:

  • The risk of suicide may be high if Modi is extradited, but that the arrangements at the prison “will enable the authorities to cope properly with Mr Modi’s condition”.
  • Modi could be kept safe at Arthur Road jail in Mumbai, where he is due to be detained.

Modi, 51, Diamond magnate fled India in 2018


UK High Court reserves judgment in
Nirav Modi’s extradition appeal

Los Angeles, Oct 12, 2022 A.Gary Singh

A British courtroom on Wednesday reserved its judgment within the Nirav Modi extradition attraction on the finish of a two-day listening to and stated the decision within the case will likely be handed down “as quickly as attainable”, provided that the needed diamond service provider has been in a “state of limbo” as he stays incarcerated in a jail right here.

On the second day of the ultimate stage of the Excessive Court docket attraction listening to, being pursued by 51-year-old Nirav Modi towards being extradited to face the Indian courts within the estimated $2 billion Punjab Nationwide Financial institution mortgage rip-off case, a two-judge panel continued to listen to arguments that the diamantaire poses a excessive danger of suicide because of his depressive state.

His defence crew claimed that his despair would worsen if despatched to the “hostile surroundings” of India, the place politicians have “demonised” him by pre-judging his guilt, the press has been “vitriolic” and the general public has “burnt his effigies”.
“The federal government of India assurances needs to be learn fairly benignly and one shouldn’t choose each attainable gap in them,” Lord Justice Jeremy Stuart-Smith advised defence barrister Edward Fitzgerald.

“It’s in your consumer’s pursuits to show the assurances aren’t ok, however we should always take a benign strategy,” he stated.
Justice Robert Jay additional famous that India is a “pleasant overseas energy and we now have to honour our treaty obligations”, on the subject of the India-UK Extradition Treaty signed in 1992.

Fitzgerald stated he adopted an “anxious scrutiny” of the assurances as a result of whereas the judiciary in India is unbiased, the manager didn’t all the time abide by the rule of regulation.
“It is not as if there was an uncheckered historical past of utter cooperation… there have been quite a few instances the place the courtroom discovered a respondent shouldn’t be extradited to India,” he stated.

The courtroom was taken by way of the detailed assurances provided by the Indian authorities, the cumulative impact of which might suggest that the psychiatric prognosis could be “greater than adequately managed” in India.


UK judge orders fugitive Indian diamond dealer
Nirav Modi to be extradited to India

Los Angeles, Feb. 25, 2021 A.Gary Singh

UK judge orders Nirav Modi to be extradited to India to stand trial

London: A UK court on Thursday ordered fugitive diamond dealer Nirav Modi to be extradited to India to stand trial after dismissing arguments of his "mental health concerns," saying they are not unusual in a man in his circumstances.
A District Judge at the Westminster Magistrates' Court, delivered the judgment and said that the fugitive diamantaire has a case to answer for in India………READ MORE


Nirav Modi arrested in UK amid India fraud case allegations


Los Angeles, March. 20, 2019 A.Gary Singh

Nirav Modi is wanted for his alleged role in India's largest bank fraud, totalling some $2bn (£1.5bn).
He left the country in early 2018, and has not returned to India since. Mr Modi, 48, was arrested in central London on Tuesday, and appeared in court on Wednesday. Police said the arrest had been made on behalf of the Indian authorities, who have asked for his extradition......Read More




Los Angeles, March. 10, 2017 A.Gary Singh

  • Diamond jewellery designer Nirav Modi was accused in February 2018 by state-owned Punjab National Bank of perpetrating a $1.8 billion fraud.
  • Modi reportedly left India in January 2018 and reportedly after being on the lam wound up in London, where he was taken into custody.
  • Modi reportedly said his companies owed much less and denied the fraud charges.India is seeking his extradition from the U.K.

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