Page 16 - Nirav Modi News Today

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Nirav Modi's solar power plant up for auction to salvage PNB dues Los Angeles, Sep 27, 2023 NRIpress.club/Ramesh/ A.Gary Singh The Debt Recovery Tribunal

The Debt Recovery Tribunal-I in Mumbai has put up a solar power plant belonging to a group entity of Nirav Modi, the absconder diamantaire, for auction in an attempt to recover a portion of his dues. The solar power plant, valued at Rs 12.40 crore, is located in Maharashtras Ahmednagar district. Additionally, Nirav Modis flat in Mumbai and two large land parcels will also be auctioned off.

Besides, the DRT-I plans to auction off two large land parcels belonging to Modi and his group company, Firestone Trading Pvt. Ltd. Both the land parcels are currently mortgaged with the Union Bank of India.

The Debt Recovery Tribunal-I has initiated an auction of a solar power plant owned by a group entity connected to fugitive diamantaire Nirav D. Modi

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

Indian businessman Nirav Modi, accused of the Punjab National Bank fraud, has been moved from the overcrowded HMP Wandsworth to HMP Thameside, London'

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The multi-crore fraud was allegedly perpetrated by billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems. Choksi and Modi have been accused of getting letters of undertaking (LoU) and foreign letters of credit (FLC) of Rs 12,636 crore issued in favour of foreign branches of Indian banks based on fraudulent claims.

The Bombay High Court has rejected the challenges raised by accused Mehul Choksi in the Punjab National Bank fraud case. Choksi, along with jeweler Ni