London: Nirav Modi, who has been in prison in London for nearly six years after losing his extradition battle to face fraud and money laundering charges in India, remains on remand pending the outcome of a “confidential” procedure that is unlikely to conclude soon, a UK court noted on Thursday. The 54-year-old appeared by video…
The TOI correspondent from London: Fugitive diamantaire Nirav Modi claims he is in a David and Goliath fight against the Bank of India who are pursuing him for $8.4 million (about Rs 73.4 crore). He says he is the underdog since he is in prison in Britain without access to a laptop or the Internet.Nirav…
Mumbai: PC Jeweller has reached a one-time settlement (OTS) with a consortium of lenders led by State Bank of India (SBI) to settle its debt by offering banks a mix of cash and equity in the Delhi-based company. The ₹2,250-crore offer represents about a 20% haircut to lenders’ principal amount, estimated at ₹2,900 crore, and…
The National Company Law Tribunal Tuesday granted State Bank of India time till September 18 to file a rejoinder in response to the voluminous reply filed by PC Jeweller Ltd. The counsel for the public sector bank had sought time from the principal bench of the tribunal, comprising of the president Justice (retd) Ramalingam Sudhakar…
