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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 court said that it has to be considered that Shetty is 66 years old, and has been in jail since 2018. "The alleged loss suffered to PNB is not only recovered, but they have gained an additional amount of Rs 55 lakh in interest," the court said.
Nirav Modi, meanwhile, remains behind bars at Wandsworth Prison in London since his arrest on an extradition warrant in March 2019.
Nirav Modi is facing a fraud and money laundering probe by the ED and CBI. The UK Court said that extraditing Nirav Modi won’t be unjust or oppressive.
Hyderabad: A day after Central Bureau of Investigation’s (CBI) CBI Special Court sentenced the former Andhra Pradesh MP Kothapalli Geetha and her husband to a five-year rigorous imprisonment in a multi-crore bank fraud case, Telangana High Court granted them bail on Friday. The High Court also ordered the couple to furnish a personal bond of Rs 25,000 each.