Mumbai: In a fresh development in the Punjab National Bank scam, the Mumbai Debts Recovery Tribunal-I, has ordered absconder diamantaire Nirav Modi and others, and his group companies, to repay the Rs 7,030 crore due to the PNB since the past nearly two years.
The DRT-1’s diktat of November 22 has also ordered Modi and other accused to shell out interest at the rate of 14.30 percent on the entire amount with effect from June 30, 2018, plus costs of Rs 175,000, within 15 days, failing which recovery proceedings would be initiated by the PNB.
The notices have been served to Modi, and his close relatives like Ami N. Modi, Neeshal D. Modi, Deepak K. Modi, Nehal D. Modi, Rohin N. Modi, Ananya N. Modi, Apasha N. Modi, and Purvi Mayank Mehta.
Besides, their group companies have also been served the notices in the same case, signed by Sujeet Kumar, In-Charge Recovery Officer, DRT-I Mumbai.
These include Stellar Diamonds, Solar Exports, Diamond RUS, Firestar International Ltd (formerly, Firestar International Pvt. Ltd.) and 13 of its branches in Mumbai, Gujarat and Rajasthan, ANM Enterprises Pvt. Ltd., NDM Enterprises Pvt. Ltd.
While Nirav Modi’s notices have been sent to his known addresses at Grosvenor House in Mumbai and to Shera Towers in Dubai, another relative Nehal D. Modi’s notice has been sent to his known address in New York.
Incidentally, this order comes barely four months after the DRT-Pune Presiding Officer Deepak Thakker had given a similar edict in July.
Earlier, in February 2019, the DRT Mumbai had summoned him on March 12, 2019, in a case of Rs 232 crore filed by the PNB to recover the money naming the Union Bank Of India and also its own subsidiary - PNB Investment Services Ltd, New Delhi, and Mumbai - as parties. (IANS)