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Nirav Modi’s firm likely to get liquidated

Virtually spelling doom for various Indian public sector banks, the National Company Law Tribunal, Mumbai, has ordered the liquidation of absconding diamantaire Nirav Modi’s group company, Firestar Diamond International Pvt Ltd (FDIPL).

Nirav Modi’s firm likely to get liquidated


The ruling to liquidate Modi’s scam-scarred company FDIPL was delivered last week by a Mumbai NCLT bench comprising Suchitra Kanuparthi (Member-Judicial) and V Nallasenapathy (Member-Technical).

Meanwhile, the diamond merchant has filed his fifth plea for bail to be heard by the High Court in London on Thursday. The 49-year-old, who has been lodged at Wandsworth Prison in London since his arrest in March last year, is scheduled for an extradition trial in May.

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