NEW DELHI: Nirav Modi, the fugitive diamond merchant accused of swindling Punjab National Bank of Rs 14,000 crore, is wearing on along with his business in Brussels undeterred by means of the fact that all his financial institution accounts have been frozen in India and one of his corporations in Belgium has been declared bankrupt. According to assets, Nirav Modi is the usage of entities run by means of his father Deepak Modi and some other mates in Belgium.
Deepak Modi’s Nipur BVBA, a subsidiary of Firestar International Ltd, has been discovered doing diamond industry allegedly on behalf of Nirav Modi. Sources mentioned at least 23 subsidiaries related to Nirav Modi and his members of the family were registered in nations like Singapore, the US, Russia, Hong Kong, Belgium, France, Macau, the UAE and Armenia.
In Brussels, Indian government have informed all banks and fiscal establishments about the investigation towards Nirav Modi, and asked that his monetary transactions be blocked. However, assets mentioned those preventive measures rarely impacted Nirav Modi’s business as he was once wearing out operations throughout the corporations run by means of his father and associates.
A court in Belgium had declared Nirav Modi’s Firestar Diamond BVBA bankrupt in March. The corporate was once engaged in diamond buying and selling across Europe and Africa. However, this has not limited Nirav Modi and he has been transacting his business throughout the other entities. The government had revoked Nirav Modi’s passport on February 24 on a request from the CBI and the Enforcement Directorate (ED).
However, he was once discovered taking common journeys around the Schengen area the usage of his revoked passport. The overseas ministry has now written to Belgium, the UK and France and asked them to tell Indian government about Nirav Modi’s whereabouts and also put restrictions on his commute.
The ED is prone to transfer an extradition request towards Nirav Modi to the UK, Belgium and some other nations having got a non-bailable warrant from a Mumbai court towards the fugitive. The CBI and the ED have approached Interpol for a pink nook realize towards Nirav Modi. The request is pending.
Deepak Modi’s Nipur BVBA, a subsidiary of Firestar International Ltd, has been discovered doing diamond industry allegedly on behalf of Nirav Modi. Sources mentioned at least 23 subsidiaries related to Nirav Modi and his members of the family were registered in nations like Singapore, the US, Russia, Hong Kong, Belgium, France, Macau, the UAE and Armenia.
In Brussels, Indian government have informed all banks and fiscal establishments about the investigation towards Nirav Modi, and asked that his monetary transactions be blocked. However, assets mentioned those preventive measures rarely impacted Nirav Modi’s business as he was once wearing out operations throughout the corporations run by means of his father and associates.
A court in Belgium had declared Nirav Modi’s Firestar Diamond BVBA bankrupt in March. The corporate was once engaged in diamond buying and selling across Europe and Africa. However, this has not limited Nirav Modi and he has been transacting his business throughout the other entities. The government had revoked Nirav Modi’s passport on February 24 on a request from the CBI and the Enforcement Directorate (ED).
However, he was once discovered taking common journeys around the Schengen area the usage of his revoked passport. The overseas ministry has now written to Belgium, the UK and France and asked them to tell Indian government about Nirav Modi’s whereabouts and also put restrictions on his commute.
The ED is prone to transfer an extradition request towards Nirav Modi to the UK, Belgium and some other nations having got a non-bailable warrant from a Mumbai court towards the fugitive. The CBI and the ED have approached Interpol for a pink nook realize towards Nirav Modi. The request is pending.
NiMo using firms run by dad, others to run biz
![NiMo using firms run by dad, others to run biz]()
Reviewed by Kailash
on
June 29, 2018
Rating:
