Nirav Modi, is now a days a household name. The billionaire jwellery designer amidst the controversy of Punjab National Bank (PNB) was positioned at 57 numbers in the Forbes India's tycoons in 2017. He has contributed in the foundation of the Nirav Modi chain of precious stone and gems retail stores across India and are the Chairman of Firestar International, which has stores in key markets over the globe.
Nirav Modi and his uncle Mehul Choksi are being searched by the Enforcement Directorate for supposedly conning the PNB, the nation's second-biggest loan specialist, to an amount of more than USD 2 billion.
The duo and others are likewise being tested by other focal offices after the fraud became known for the current year following a complaint on registration of FIR by the PNB that they supposedly duped the nationalized bank to the amount of over Rs 13,000 crore, with the association of a couple of workers of the bank.
Officials in India and the UK are of the opinion that Nirav Modi is hiding in London, where his company has one store, attempting to assert refuge from what he calls "political persecution.”
In May the CBI had documented two charge sheets for the situation under the watchful eye of a Mumbai court. The ED has additionally documented its charge sheet for the situation including Nirav Modi, who is in his late 40s, and his partners.
They said that in regards to 12,000-page charge sheet or the indictment protestation has been recorded under the steady gaze of an exceptional court here under different segments of the Prevention of Money Laundering Act (PMLA).
Service of outer undertakings told that the legislature was sitting tight for the law requires organizations to approach them before pushing for a removal, which had so far not happened.
The Centre is as of now looking for the alcohol and aeronautics mogul Vijay Malya over unpaid advances to his ancient Kingfisher Airlines after he moved to Britain in March a year ago.
Same seems to be the case with Nirav modi.Police documented charges against in excess of 25 individuals in May including Modi, Choksi, previous PNB boss Usha Ananthasubramanian, two of the bank's official executives and three organizations having an association with Nirav Modi.
However even after so much high voltage drama there is a denial of any wrong doing by Mr. Modi and Mr. Choksi.