Union Bank sues Nirav Modi in Hong Kong court: Report
Beijing, Sep 27 : The Union Bank of India has sued fugitive billionaire jeweller Nirav Modi in a Hong Kong court, a media report said.
A report in the Hong Kong-based South China Morning Post said the Union Bank claimed in a writ filed at the High Court on Wednesday that the Mumbai-born businessman, wanted for a massive financial scam in India, guaranteed two loans made to Firestone Trading Private on October 21, 2011 and Firestar Diamond on November 15, 2011.
The bank is demanding that Nirav Modi - who owns a chain of jewellery shops from Hong Kong to New York and whose celebrity clients have included actresses Naomi Watts and Kate Winslet - pay more than $5.49 million plus interest after both firms allegedly defaulted on repayments.
Nirav Modi, 47, has been on the run since February after Indian authorities launched an investigation into his alleged involvement in a Rs 13,600 crore (US$1.8 billion) scam against the Punjab National Bank (PNB), the country's second-largest state-run lender.
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Man in Nellore held for duping youngsters with promise of TTD job; Rs 25.2 lakh seized
Tirupati: Vedayapalayam Police of Nellore district have arrested a 44-year-old man under charge of having duped unemployed youngsters by winning their trust by promising them jobs at the Tirumala Tirupati Devasthanams (TTD).
Nellore Additional Superintendent of Police Deeksha has said that the investigation team has confiscated Rs 25.2 lakh cash that the arrested, identified as Sheik Hussain, had collected from the victims.
Hussain was allegedly greatly attracted to a variety of vices that would provide him a lavish lifestyle. In order to fulfill his desires, he began luring unemployed by assuring that he would help them find jobs. He successfully duped around 15 jobless youngsters from Nellore town and nearby areas and collected up to Rs 48 lakh from them.
The Vedayapalayam Police, who registered a case based on the complaints filed by the victims. Two special teams, from the Central Crime Station and the Vedayapalayam Starion, which probed the matter succeeded in arresting Hussain on Saturday.
The arrested was produced in court and sent to police custody.
