UK Court Orders Nirav Modi to Pay Over $10.7 Million to Bank of India
The London High Court ruled that fugitive diamond trader Nirav Modi is liable to pay over $10.7 million (around Rs 100 crore) to Bank of India under a personal guarantee for a loan extended to his Dubai-based company, Firestar Diamond FZE. Modi contested the claim but the court upheld the bank's position, allowing it to pursue recovery in the UK. This ruling adds to Modi's legal setbacks amid ongoing extradition proceedings and efforts by Indian banks to recover dues internationally.