'All options are open', diamantaire Nirav Modi had said on taking bank loans

Agencies
February 17, 2018

New Delhi, Feb 17: Nirav Modi's name was, till recently, a stamp of corporate India's growing global prestige. On Hollywood red carpets, his diamonds sparkled on actors and models like Kate Winslet, Dakota Johnson and Rosie Huntington-Whiteley.

In India, billboards in Delhi bear the image of Priyanka Chopra, also adorned with Modi's jewels.

But today, the government has suspended Modi's passport, a day after law enforcement officials fanned out to raid his jewellery stores and other businesses in Mumbai and New Delhi.

Central Bureau of Investigation (CBI) officials told reporters the agency had on February 4, issued a lookout circular in the country for Modi, who they say flew out of the country on January 1.

Modi, who has a net worth of some USD 1.8 billion according to Forbes magazine rankings, has not yet responded to the allegations and could not be reached for comment. NDTV learnt on Friday that he is staying in a luxury suite in a New York hotel overlooking Central Park with his wife, who is also wanted in a case of fraud that is estimated at USD 1.6 billion.

During an interview with news agency Reuters in November, Modi discussed his love for art, poetry and paintings. Asked how he planned to raise funds to add new stores, he seemed unconcerned. "All options are open," he said, sitting in his cavernous Mumbai office. "We could use internal accruals. We can take loans from banks or we could do an initial public offering."

In January, India's second-largest state-run lender, Punjab National Bank, filed a criminal complaint with the CBI that accused Modi and others of defrauding the bank and causing it a loss of about USD 44 million.

The news was a shock for the circles in which Modi moved.

As recently as last month, he was at the World Economic Forum in Davos. He was part of a group photograph with Prime Minister Narendra Modi in the foreground .

"Top industrialists invited him home to display his collections," said a Mumbai investment banker at a US-based firm who has worked directly with Modi's company. "There was a personal touch in everything he sold. Nirav Modi is a brand."

Modi grew up in Antwerp, Belgium, in a diamond-dealing family. In 1990, at the age of 19, he moved to Mumbai, according to the November interview.

Nine years later, he started his own company, Firestar Diamond Ltd., selling loose stones. He employed fewer than a dozen people at the time. By last year, the number was more than 2,000.

He said he came to realise that the margins were better in retail.

In 2010, Modi launched an eponymous jewellery business branded NIRAV MODI, in capitals, with the tagline "Haut Diamantaire". New boutiques in Las Vegas and Hawaii have since been added to a stable that stretches from New York to London to Beijing.

He became a man whose diamond necklaces were sold, with his name attached, by Sotheby's. "Pure feminine elegance," says a Hong Kong auction catalogue note of one 85.33 carat diamond necklace.

The auction house posted an online slideshow of jewellery-on-stars at the 2017 Oscars and highlighted supermodel Karlie Kloss having "a major Nirav Modi moment with her diamond 'Mughal' choker."

But the celebrity links could be starting to break.

A spokesperson for Priyanka Chopra, the film star, said in a statement: "She is currently seeking legal opinion with respect to terminating her contract with the brand in light of allegations of financial fraud against Nirav Modi."

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Agencies
May 17,2020

Mumbai, May 17: Much on expected lines, Maharashtra, on Sunday, extended the coronavirus lockdown till May 31, in order to control the spread of the virus, under the Epidemic Diseases Act, 1897, the state government said in a statement.

On Sunday afternoon, Chief Secretary Ajoy Mehta, in a notification said: "It is further directed that all earlier orders shall be aligned with this order and remain in force up to and inclusive of May 31, 2020. The calibrated phase-wise relaxation or lifting of lockdown orders will be notified in due course."

"Lockdown 3.0 ends today. Lockdown 4.0 will come into effect tomorrow and will be valid till May 31. There will be some relaxations in the fourth phase," he said.

"The green and orange zones will get more relaxations, in terms of starting more services. As of now only essential services are operational, he said.

Maharashtra has recorded 30,706 COVID-19 cases of which 22,479 are active. The death toll is 1135, while 7,088 patients have been discharged after recovery.

In exercise of the powers conferred under Section 2 of the Epidemic Diseases Act, 1898 and the powers, conferred under the Disaster Management Act, 2005, the Chairperson, State Executive Committee, issued direction to extend the lockdown till 31 May 2020 for containment of COVID-19 epidemic in the State and all Departments of Government of Maharashtra shall strictly implement the guidelines issued earlier form time to time, according to the statement.

Over the last two days,  Maharashtra Chief Minister Uddhav Thackeray held a series of meetings with his ministerial colleagues, senior leaders including NCP supremo Sharad Pawar and top officials. 

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Agencies
February 23,2020

New Delhi, Feb 23: Hailing the role of first Prime Minister Jawaharlal Nehru in shaping India a modern nation state, former Prime Minister Manmohan Singh on Saturday hit out at the Narendra Modi-led Central government, saying "nationalism" and the slogan of 'Bharat Mata Ki Jai' are being misused to construct a militant and purely emotional idea of India.

Speaking at the launch of a book on Jawaharlal Nehru's works and speeches, Singh said: "I am extremely happy that this book makes an effort to revisit Pandit Nehru. He had led this country in its volatile, formative days when we adopted democratic way of life, accommodating divergent social and political views."

The former Prime Minister said that Nehru, who was very proud of Indian heritage, "assimilated it", and harmonised them into the needs of a "new modern" India.

"A great visionary, Nehruji laid the foundation for shaping India as a modern nation state," he said.

Highlighting the works of the first Prime Minister, Singh said: "If India is recognized in the comity of nations as a vibrant democracy and, if it is considered as one of the important world powers, it was Nehru, who should be recognised as its main architect."

He said Nehru was not only a statesman of high international standing, but a great historian and literary figure too.

"With an inimitable style, and a multi-linguist, Nehru laid the foundation of the universities, academies and cultural institutions of Modern India. But for Nehru's leadership, Independent India would not have become what it is today," he said.

Taking an apparent dig at the BJP government, he said: "But unfortunately, a section of people who either do not have the patience to read history or would like to be deliberately guided by their prejudices, try their best to picture Nehru in a false light.

"But I am sure, history has a capacity to reject fake and false insinuations and put everything in proper perspective," he said.

He said the book "Who is Bharat Mata" is such an attempt to set the narrative in the right direction.

Singh said that selecting appropriate pieces from Nehruji's works, the book justifies its title "Who is Bharat Mata?"

"As this book contains a timely collection of writings by and on Pandit Jawaharlal Nehru- the leader, who shaped India and the Icon whose legacy is the subject of intense and often angry reaction today.

The book also comprises reminiscences and assessments of Nehru by some of his contemporaries and near contemporaries-among them, including Mahatma Gandhi, Bhagat Singh, Sardar Patel, Maulana Azad, Aruna Asaf Ali, Sheikh Abdullah, Ramdhari Singh Dinkar, Ali Sardar Jafri, Baldev Singh, Martin Luther King Jr, Richard Attenborough, Lee Kuan Yew and Atal Bihari Vajpayee.

"It is a book of particular relevance at a time when nationalism and the slogan of ‘Bharat Mata Ki Jai' are being misused to construct a militant and purely emotional idea of India that excludes millions of residents and citizens," Singh said attacking the BJP government.

The two time Prime Minister further said that in the pages of the carefully complied anthology-which also carries illuminating introductions by the authors Nehru emerges as a "remarkable man of ideas and action", who had an instinctive understanding of India's civilisational spirit and as a visionary with clear commitment to the promotion of scientific temper, who despite the compulsions of politics, remained a true democrat.

"His legacy continues to be of immense significance-perhaps more today than at any other time in our history," he said.

He also warned that "Nehru makes a very significant and time relevant remark on the dangers of leaderships falling into a trap and getting removed far away from the common people whom they are supposed to serve".

"In an atmosphere, when emotions are deliberately get provoked and the gullible are misled by false propaganda, misusing communication technology, this book makes a refreshing break through," Singh added.

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News Network
May 30,2020

New Delhi, May 30: An Air India flight from Delhi to Moscow on Saturday had to return midway after the airline's ground team found out that one of the pilots had tested positive for novel coronavirus, officials said.

"When the A320 plane, which did not have any passengers as it was heading to Moscow to bring back stranded Indians under Vande Bharat Mission, had reached Uzbekistan's airspace, our team on ground realised that one of the pilots had tested COVID-positive," senior Air India officials said.

"The flight was immediately asked to return. It came back to Delhi at around 12.30 pm on Saturday," the officials said. The crew has been quarantined. Another plane would be sent to Moscow to bring back the stranded Indians, according to the officials.

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