Nirav Modi and Mehul Choksi used some 200 shell companies to divert funds from banks
Nirav Modi apparently had plans to flee the country in 2016 itself. It got scuttled when the taxmen raided his uncle Mehul Choksi’s Gitanjali Gems and allied firms, including Modi’s outlets. The raid was after allegations of these firms accepting demonetised currency notes. Sources in the income tax department’s investigation wing said that unaccounted money worth ₹350 crore was recovered during the raids. The department issued notices seeking explanation from Modi and Choksi, but they never replied.
Exactly a year later, on December 31, 2017, Modi threw an ultra-luxe new year party at the Four Seasons Hotel in Mumbai. The guests were the biggest businessmen and Bollywood stars, and they were served a seven-course meal by celebrity chef Massimo Bottura. Little did these guests know that the host was planning to flee the country the next day. A few weeks earlier Modi had a tip-off that Punjab National Bank was readying a complaint against him to the Bank Security and Fraud Cell of the CBI.
On New Year’s Day, Modi flew out of Mumbai along with his brother, Nishal. Modi’s parents and Nishal are Belgian citizens. “Nirav had told us that he held two passports. One from Belgium and another Indian,” said diamond merchant Sanjay Kothari, who is former chairman of Gems and Jewellery Export Promotion Council.
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Denne historien er fra March 04, 2018-utgaven av THE WEEK.
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Themes Of Choice
As Savvy Investors Seek New Avenues, Thematic Mutual Funds Are Gaining Popularity
A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
United in the states
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COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
Dasho Karma Ura, one of the world's leading happiness experts, has guided Bhutan's unique gross national happiness (GNH) project. He uses empirical data to show that money cannot buy happiness in all circumstances, rather it is family and health that have the strongest positive effect on happiness. Excerpts from an interview:
India is not a controlling big brother
Prime Minister Tshering Tobgay considers India a benevolent elder sibling as the \"big brotherly attitude\" is happily missing from bilateral ties. He thinks the relationship shared by the two countries has become a model of friendship not just for the region, but for the entire world. \"India's attitude is definitely not of a big brother who is controlling and does not allow the little brother to blossom and grow,\" says Tobgay in an exclusive interview with THE WEEK.
Comrade with no foes
Lal Salaam, Comrade Yechury-you were quite a guy!
Pinning down saffron
In her first political bout, Vinesh Phogat rides on the anti-BJP sentiment across Haryana
MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict
