×
207
Fashion Jobs
UBRIGHT INTERNATIONAL CO. LTD
Senior Sales Manager 20+ Lakh p.a
Permanent · Pune
JIO
jc Home Lead - Coimbatore & Tiruppur - Sales Manager
Permanent · Tiruppur
ERIS LIFESCIENCES LIMITED
Area Business Manager (Generics)
Permanent · Ahmedabad
DIGIKREDIT FINANCE
Requirement For Sales Manager :: Ahmedabad
Permanent · Ahmedabad
KHOSLA MACHINES PVT. LTD.
Sales Manager-North
Permanent · Sahibzada Ajit Singh Nagar
TRACKON COURIER
Area Sales Manager
Permanent · Vapi
AVANTOR
Area Sales Manager || Patna/Ranchi
Permanent · Ranchi
BDO INDIA LLP
Cnc Manager Production Manager Minimum 14 Yrs to 18 Yrs
Permanent · Chennai
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
AS
Opening For Production Manager in Leading Sweets Mfg Company
Permanent · Thane
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Ahmedabad
Permanent · Ahmedabad
SRL DIAGNOSTICS
Territory Development Manager
Permanent · Prayagraj
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Maharashtra)
Permanent · Mumbai
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Madhya Pradesh)
Permanent · Indore
GRAND CHEMICAL WORKS
Area Sales Manager- Jaipur & Lucknow
Permanent · Lucknow
KISHOR EXPORTS
Qam - Quality Assurance Manager For Garment Exports Company
Permanent · Ranchi
MARC LABORATORIES LTD.
Field Sales Officer/Area Business Manager / Regional Business Manager
Permanent · Varanasi
JAYPEE BROTHERS MEDICAL PUBLISHERS PVT LTD.
Area Sales Manager
Permanent · Prayagraj
RUDRAKSHA CERAMICS PRIVATE LIMITED
Area Sales Manager
Permanent · Pune
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
SAHIBANDHU FINTECH SERVICES LIMITED
Area Sales Manager - Sahibandhu
Permanent · New Delhi
HDB FINANCIAL SERVICES
Sales Manager - Alternate Channel
Permanent · Salem
Published
Dec 31, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

CBI alleges Nirav Modi covered up crimes with dummy partners

Published
Dec 31, 2019

The Central Bureau of Investigation has revealed that jewellery tycoon and alleged fraudster, Nirav Modi, deliberately changed the partnership structure of three of his businesses to hide his illegal business practices.

Nirav Modi is accused of changing the structure of his businesses to conceal fraudulent business practices - Photo: Nirav Modi

 
Modi allegedly installed “dummy partners” in three of his businesses -- Diamonds R US, Solar Exports, and Stellar Diamonds -- in order to conceal his fraud at the Punjab National Bank, sources told the Mumbai Mirror.

Modi made the changes to his businesses in January 2016 but did not inform the PNB, the sources revealed.

The three businesses secured loans through fraudulent letters of undertaking, the CBI claims. By appointing dummy directors as “majority stakeholders,” Modi was able to continue to fraudulently secure loans, the sources said.

“The three firms were owned by accused Nirav Modi’s family and controlled by him and his wife,” said one source.

“In order to conceal the crime, in January 2016, he inducted two persons as dummy partners in each of the three firms and got a deed of partnership signed by them, showing them as majority stakeholders.”
 
Modi is accused of defrauding the PNB and a consortium of other lenders through the three businesses mentioned above, to the tune of Rs 6,498 crore ($976.7 million).

The entire fraud total has passed Rs 13,500 crore and Modi’s Uncle, and fellow jeweller, Mehul Choksi, is also accused of participating in the fraud, through his fine jewellery business, Gitanjali Gems.
 
Nirav Modi remains in a UK jail and awaits his extradition trail, which is scheduled for May 11 to 15.

Mehul Choksi is believed to be residing in Antigua, where he has taken citizenship and Indian authorities are working to secure his extradition to India.

Copyright © 2022 FashionNetwork.com All rights reserved.