DRT tells Nirav Modi, the partners that pay more than Rs 7,200 cr plus interest
Pune, July 6 () On Saturday, the Debt Recovery Court ordered the runaway diamond dealer Nirav Modi, who is currently in a London prison, and his advisers to pay more than Rs 7,200 crore with interest to the defrauded National Bank of Punjab.
Modi (48) is wanted in India as the main defendant in the case of fraud and money laundering of the Punjab National Bank (PNB) amounting to USD 2 billion.
The presiding officer Deepak Thakkar, who has additional charges from the Debt Recovery Court (DRT), Mumbai, approved two orders in two cases in favor of the National Bank of Punjab.
The respondent and its partners are ordered and ordered to pay the applicant (PNB) jointly or individually the total sum of Rs 7029.06.87.955.65 with an interest of 14.30 percent per annum from June 30, 2018 , declared the DRT order.
After approving another order, the judge ordered Modi and others to pay Rs 232,15,92,636 to PNB with an interest rate of 16.20 percent as of July 27, 2018.
A court official said that recovery officers with DRT will initiate additional actions.
Modi was arrested by uniformed officers from Scotland Yard in central London on March 19. He faces extradition to India as the main beneficiary of the fraudulent issuance of letters of commitment (LOU) as part of a conspiracy to defraud PNB and then launder the money. of the crime.
The diamantaire has been behind bars in one of the most overcrowded prisons in England: His Majesty's Prison (HMP) Wandsworth. SPK NSK SRY