Mehul Choksi has been issued with a fresh criminal case by the Central Bureau of Investigation for allegedly defrauding the Industrial Finance Corporation of India through his jewellery business Gitanjali Gems.
Diamond tycoon Nirav Modi’s appeal against the UK High Court ruling to extradite him to India to stand trial for fraud will continue with a hearing on June 28 as Modi cites mental health as grounds to remain in the UK.
The Enforcement Directorate has released a Mumbai property belonging to jewellery tycoon Nirav Modi following a court order. This will enable banks to sell it to recover funds from Modi’s alleged fraud.
The UK High Court has begun the case for jewellery tycoon Nirav Modi’s appeal against the UK court’s previous ruling to extradite him to India to stand trial for alleged fraud at the Punjab National Bank.
As Indian authorities continue to work to extradite accused jeweller Nirav Modi, a special Prevention of Money Laundering Act court cancelled arrest warrants for Modi’s brother-in-law in exchange for his cooperation.
Fugitive Indian jeweller Nirav Modi can appeal his extradition to his homeland, where he is accused of defrauding one of the country's largest banks of $1.8 billion, the High Court in London ruled on Monday.
Jewellery tycoon accused of fraud Nirav Modi’s legal team told the High Court in London, UK that he would be a substantial suicide risk if extradited to India as they attempt to secure a full extradition appeal.
The Punjab National Bank made a number of applications at a Prevention of Money Laundering Act Court on July 14 to restore assets from two businesses owned by jewellery tycoon Nirav Modi, accused of fraud at the bank.
Purvi Modi, sister of alleged fraudulent jewellery tycoon Nirav Modi, has given over Rs 17 crore to the Indian government as she is given a pardon from criminal proceedings in return for her help with the case.