Billionaire jeweller Nirav Modi flees to UK, claiming political asylum: Report

Agencies
June 11, 2018

New Delhi, Jun 11: Nirav Modi, the billionaire jeweller at the heart of a more than $2 billion fraud case, has fled to the UK, where he is claiming political asylum, the Financial Times reported on Sunday, citing Indian and British officials.

Britain's Home Office said it does not provide information on individual cases.

Nirav Modi could not be contacted by Reuters for comment on the FT report.

Punjab National Bank, the country'a second-largest state-run bank, said earlier in 2018 that two jewellery groups headed by Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff at a Mumbai branch over several years.

Nirav Modi is in London trying to claim asylum from what he calls "political persecution", the FT reported.

Ministry of external affairs told the FT that the government was waiting for law enforcement agencies to approach them before pushing for an extradition, which had thus far not happened. The ministry did not respond to a Reuters request for comment outside regular working hours.

The Centre is already seeking the extradition of liquor and aviation tycoon Vijay Mallya over unpaid loans to his defunct Kingfisher Airlines after the businessman and co-owner of the Formula One Force India team moved to Britain in March last year.

Police filed charges against more than 25 people in May including Modi, Choksi, former PNB chief Usha Ananthasubramanian, two of the bank's executive directors and three companies belonging to Nirav Modi.

Modi and Choksi have denied any wrongdoing.

Last month, senior executives at the bank were accused by the police, in a chargesheet filed in court, of misleading the central bank in late 2016 over the lender's handling of the financial messaging system and credit guarantees that were at the centre of the fraud.

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coastaldigest.com news network
November 5,2024

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Mangaluru: The Karnataka Maritime Board (KMB) has initiated the groundwork for the much-anticipated Mangaluru Water Metro Project (MWMP). The project, which was first announced by Chief Minister Siddaramaiah during the state budget presentation, aims to introduce water-based public transport along the Gurupur and Netravathi rivers in Mangaluru.

The proposed Mangaluru Water Metro will follow in the footsteps of Kochi's successful Water Metro system, which has become a model for eco-friendly and efficient urban transport in India. The KMB will now conduct necessary feasibility studies to assess how this concept can be adapted to Mangaluru's unique geographical and urban landscape.

A 30-Kilometer Stretch Connecting 17 Key Locations
According to a senior officer from KMB, the project will span a 30-kilometer route that connects key points across the rivers and coastline. The water metro service will cover locations such as Bajal, Kulur Bridge, New Mangaluru Port, Sultan Battery, Tannirbhavi, Old Port, Hoige Bazaar, and Someshwar Temple. The service aims to link 17 important points, benefiting both daily commuters and tourists. This initiative not only seeks to reduce congestion in Mangaluru but also promises to boost tourism and recreational activities by providing an alternative mode of transport.

Focus on Eco-Friendly and Efficient Water Transport
The Mangaluru Water Metro will feature modern catamaran boats, which may be powered by electric or diesel engines. These boats will be equipped with essential amenities to ensure smooth and safe operations. The project’s emphasis on sustainability means that the boat fleet will be designed to minimize environmental impact, making water transport both eco-friendly and economically viable.

Feasibility Study to Shape Project Design
The initial feasibility report will cover several crucial aspects, including the placement of water metro stations. These locations will be chosen based on factors such as passenger demand, availability of land, connectivity to other transport modes, and sustainability. A detailed LiDAR (Light Detection and Ranging) survey will further aid in mapping the river routes and surrounding areas, providing precise data for the project’s planning phase.

In addition to assessing operational needs, the feasibility study will also project future demand for water metro services over the next 25 years. By exploring various scenarios, planners can ensure that the water metro is designed to accommodate both current and future user requirements.

Special Purpose Vehicle for Project Management
The report is expected to recommend creating a Special Purpose Vehicle (SPV) to manage the project. This independent entity would help secure funding, attract investors, and ensure professional oversight, enhancing the project's credibility and long-term viability.

What is the Mangaluru Water Metro Project?
The Mangaluru Water Metro Project aims to introduce a sustainable water-based public transport system to alleviate traffic congestion in the city and promote tourism. Inspired by the Kochi Water Metro, the project will create a seamless and eco-friendly transport option along the Gurupur and Netravathi rivers, covering key points across the city’s riverside and coastal areas.

Once operational, the Mangaluru Water Metro will offer a modern, efficient, and scenic alternative to road transport, helping transform urban mobility in the city while boosting tourism and reducing environmental impact.

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News Network
November 11,2024

Udupi, Nov 11: A traveller reportedly lost ₹4.1 lakh after attempting to book a cab online in Udupi. 

At around 1:30 PM on November 7, the man from West Bengal searched for car rentals on Google and selected a website named "Shakti Car Rentals." Shortly after, he was contacted by someone claiming to be "Rohit Sharma," who directed him to pay a registration fee of ₹150 on the site.

After unsuccessful payment attempts via both his Canara Bank debit card and SBI credit card (without receiving an OTP), "Rohit Sharma" instructed him to pay the driver directly. But at 1:47 PM, he received messages showing deductions of ₹3.3 lakh from his SBI credit card and ₹80,056 from his Canara Bank debit card, totaling ₹4.1 lakh.

The complainant alleges fraud through a deceptive link disguised as a booking token fee. A case has been registered at Udupi Town Police Station.

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News Network
November 7,2024

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The Israeli regime has killed at least 40 people during new airstrikes against eastern Lebanese areas, besides targeting the country’s capital Beirut with fresh acts of aggression.

Lebanon’s health ministry announced the fatalities on Wednesday, saying 53 other people had also been wounded during the aerial attacks that targeted the country’s Bekaa Valley, including the city of Baalbek.

In early Thursday, the regime was also reported to have attacked Beirut’s southern suburbs, including a site adjacent to Rafiq Hariri International Airport.

The attacks came after the regime issued short-notice evacuation orders apparently directed at the residents of the areas, claiming that the areas contained facilities belonging to Lebanon’s Hezbollah resistance movement.

Tel Aviv has been using similar claims on countless occasions since last October, when it markedly intensified its deadly acts of aggression against Lebanon, in order to try to justify the escalation. Hezbollah has, however, invariably refuted the claims.

Also on Wednesday, the United Nations warned in its most recent flash report on the humanitarian crisis caused by the Israeli atrocities targeting Lebanon that the aggression had “reached a critical point.”

The attacks have claimed the lives of more than 3,000 people, which was “58 percent more than the 1,900 fatalities” that were caused by the regime’s 2006 war against Lebanon, the report said.

“Additionally, an estimated 1.3 million people have been displaced, both within Lebanon and into neighboring countries, 33 percent more than the number of people displaced in 2006,” it added.

Women comprised the majority of those who had been rendered homeless within Lebanon as a result of the Israeli attacks, the report noted.

It also regretted that the Israeli attacks had featured 78 assaults on healthcare facilities across the country that had claimed the lives of 130 health workers and injured 111 others.

In response to the aggression, Hezbollah has been staging hundreds of retaliatory strikes against the occupied Palestinian territories and the Israeli forces trying to advance on southern Lebanese areas.

The movement has vowed to sustain its strikes until the regime ends the escalation.

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