Nirav Modi has been on the run since February. Photo: Handout

State-owned Union Bank of India takes fugitive jeweller Nirav Modi to court in Hong Kong over firms’ alleged defaulting on US$5.5 million in loan repayments

Writ filed at High Court claims billionaire guaranteed loans to two firms in 2011, using US$2 billion in fraudulent guarantees issued by rogue Punjab National Bank staff at a Mumbai branch.

Topic |   Nirav Modi

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Nirav Modi has been on the run since February. Photo: Handout
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