Finally, Nirav Modi Has To Appear Before US Court, His Assets In US Can Be Claimed By PNB

A bankruptcy court in New York has recognised the claim of Punjab National Bank (PNB) on the proceeds of any assets of Nirav Modi that are sold there and ordered summons to be issued for examination of the fugitive diamantaire and his four associates.

The two rulings in the Modi case came late on Thursday night. The government is seeing this as a positive development and it comes just a day after a UK court tightened the noose around another fugitive, Vijay Mallya, also wanted for defrauding banks.

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