Justice Ingrid Simler at the Royal Courts of Justice in London concluded the hearing and said as the matter was of "some importance", she would take some time to consider it and hand down her ruling on Wednesday.
In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler concluded there were "substantial grounds" to believe that Modi would fail to surrender as he does possess the means to "abscond".
Frozen mutual funds and shares worth Rs 86.72 crore belong to Choksi and his group, and the rest are owned by the Modi group.
Justice Sandeep Kumar stayed the proceedings while hearing a petition of Gandhi, who has contended that since he has already been convicted in a similar case by a Gujarat court, he cannot be put on trial for the same offence again.
If lodged in the barrack, Modi is likely to get three square metre personal space and he will be provided a cotton mat, pillow, bed-sheet and blanket.
The name of fugitive diamantaire Mehul Choksi wanted in a Rs 13,000-crore scam in the Punjab National Bank is understood to have been removed from the Interpol database of Red Notices on the basis of his plea to the Lyon-headquartered agency, people in the know of the development said. The Central Bureau of Investigation (CBI) remained tight-lipped on the development. The Red Notice is highest form of alert issued by the 195-member country-strong Interpol to law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
While in custody and until the first hearing in his extradition case next week, Modi is likely to be held in a separate cell but may also have to share a cell with other prisoners given the overcrowding pressures.
He has been lodged at Wandsworth prison in south-west London since his arrest in March in connection with the nearly $2 billion Punjab National Bank fraud and money laundering case.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe.
The diamond merchant, who has been behind bars at HMP Wandsworth in south-west London ever since his first bail application was rejected on March 20, can apply for a high court bail appeal at any time until his next remand hearing on April 26.
The joint venture of Jio Financial Services and BlackRock to foray into India's asset management space could be disruptive but not disastrous for incumbent industry players, analysts said on Thursday. As an investment strategy, analysts suggest investors stay put in shares of those AMCs that consistently improve business metrics, and where market capitalisation-to-asset under management (AUM) valuation is not stretched. However, growth expectations of incumbent players may get trimmed in the medium-to-long term, analysts said, once the Jio-BlackRock JV unveils its plans, discounting the looming challenge as significant enough to dent their profitability.
Congress leader Rahul Gandhi has once again refused to apologise for his Modi surname remark that led to his disqualification as an MP but urged the Supreme Court to stay his conviction in the criminal defamation case stemming from his comment, asserting he is not guilty.
In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler concluded there are "substantial grounds" to believe that the 48-year-old fugitive diamantaire would fail to surrender as he does possess the means to "abscond".
With months to go for the Karnataka assembly elections, the man in the hot seat, Chief Minister Siddaramaiah says he'll make billionaire jeweller Nirav Modi and the Punjab National Bank scam an issue in the upcoming Karnataka elections . In an interview to CNN-News18's Deepa Balakrishnan, the CM also says that Hindutva is not a campaign issue in the state.
His legal team, led by solicitor Anand Doobay, have previously offered one million pounds as security alongside an offer to meet stringent electronic tag restrictions on their client's movements, "akin to house arrest".
During the course of the hearing last month, it emerged that Modi had made death threats to witnesses and also attempted to destroy evidence such as mobile phones and a server holding "material critical to the fraud".
The value of MF exposure to REITs and InvITs which was at Rs 734 crore at the end of March 2020, rose to Rs 5,200 crore by the end of March 2023.
Despite Nirav Modi win, in the last five years, India managed to bring only about 20 fugitive offenders.
The billionaire jeweller, who has fled the country, in the letter also disagreed with the loan default amount of Rs 11,400 crore and pegged the amount his companies owe to the bank at under Rs 5,000 crore.
She will now shun all the material comforts and luxury, which her family of diamond merchants could have provided her.
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues totalling Rs 5.35 crore. The latest decision has been taken after Choksi failed to pay the fine imposed on him in October 2022 by Sebi in a case pertaining to indulging in fraudulent trading in the shares of Gitanjali Gems Ltd. Choksi, who was the chairman and managing director as well as part of the promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi, both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore.
Balanced advantage funds (BAFs) were popular in the later part of 2021 and continued to see good inflows until some months back as investors looked for safer options amid over-valuation concerns. As such concerns ease, investors are turning to riskier funds and shifting from BAFs. Redemptions from the hybrid fund category have exceeded in six of the last seven months, with investors pulling out a net of Rs 3,140 crore during the seven-month period.
Sebi on Thursday sent a notice to fugitive businessman Mehul Choksi asking him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems Ltd and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days. The demand notice came after Choksi failed to pay a fine imposed on him by the Securities and Exchange Board of India (Sebi). Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi.
Clare Montgomery, Modi's barrister, made a series of offers to try and convince the judge to grant bail.
Congress chief Mallikarjun Kharge, general secretary Priyanka Gandhi Vadra, senior leaders K C Venugopal, P Chidambaram and Salman Khurshid were among the party's top brass taking part in the satyagraha at Rajghat.
Soon after coming out of the ED office in Kolkata, Banerjee said the interrogation was an effort to prevent him from participating in the INDIA meet and a testimony to the vital role TMC is playing in forging the opposition unity.
Gohil, speaking after the HC ruling earlier in the day, maintained that in the past the apex court has provided relief to accused in different cases.
Hitting back at Prime Minister Narendra Modi for his corruption jibe at the Opposition, Congress president Mallikarjun Kharge on Wednesday accused him of running a "bhrashtachari bhagao abhiyan" (make the corrupt flee campaign), and said that he must stop his image makeover by posing as an anti-corruption crusader.
'Starting an SIP now and continuing with it is likely to translate into high returns over the long term.'
Actively managed mutual fund (MF) schemes had been at the receiving end over the past few years for their inability to beat their benchmarks. However, the slump in shares of Adani Group companies - two of which are part of the benchmark National Stock Exchange Nifty50 index - have helped them improve their performance vis--vis exchange-traded funds (ETFs) or index funds.
Congress leader Rahul Gandhi on Monday told a sessions court in Surat his conviction by a magistrate's court in a 2019 defamation case over his "Modi surname" remark was erroneous, patently perverse, and he was sentenced in a manner so as to attract disqualification as a member of Parliament.
'I was shocked by the kidnapping episode. I could have lost my life.'
How long can you look at Ajith sitting with a machine gun on his lap? asks A Ganesh Nadar.
Balanced advantage funds have the potential to earn superior risk-adjusted returns for the investor and offer a smoother investment journey.
The ED has filed a fresh chargesheet against absconding jeweller Mehul Choksi, his wife Priti and others under the anti-money laundering law in connection with the over Rs 13,000-crore PNB loan fraud case, officials said on Monday. This is the first prosecution complaint filed by the central agency against Choksi's wife Priti Pradyotkumar Kothari. She has been charged by the Enforcement Directorate (ED) with "helping her husband in layering of the proceeds of crime".
With the fans allowed to watch the final on Sunday's tickets, there were many fans, who had scheduled their hotel check-out
The court in Gujarat's Surat city which on Thursday sentenced Congress leader Rahul Gandhi to a two-year jail term in a criminal defamation case noted that the seriousness of his crime increased because a speech delivered by a Member of Parliament has a "very wide impact on the public."
Former Congress president Rahul Gandhi's meeting with British Labour leader Jeremy Corbyn in London triggered a row back home with the Bharatiya Janata Party asking him whether he endorsed the UK opposition leader's "anti-India" views.
'I was put in an anda cell. No window, light or air. Only grills.' 'During the monsoon, water would seep. There were rats running around all the time.' 'We were forced to sleep under bright lights all the time. Those bright lights are never switched off.'
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