London Court Orders Nirav Modi To Pay Bank of India Over $11.5 Million
A London High Court has ruled that fugitive diamond merchant Nirav Modi is liable to pay the Bank of India over $11.5 million regarding a personal loan guarantee. This ruling is separate from his ongoing extradition case involving a $2 billion fraud scandal.
Why it matters
This decision marks a legal victory for Indian banking institutions seeking to recover assets from high-profile fugitives residing abroad.
Fugitive diamond merchant Nirav Modi is liable to pay Bank of India over USD 11.5 million, including accruing interest on a personal loan guarantee, the High Court in London has ruled.
The report relies on court documents and legal statements without editorializing.
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