Connect with us

International News

Nirav Modi’s plea on dismissing fraud allegations rejected by US court

Published

3 years ago

on

Nirav Modi’s plea on dismissing fraud allegations rejected by US court

On October 15, the U.S. Bankruptcy Court for the Southern District of New York rejected his and his associates’ request to dismiss the fraud charges against them. This was another setback for the fugitive diamond dealer Nirav Modi. Basically, Firestar Diamond, Inc., Fantasy, Inc. and A. Jaffe, Inc.-three U.S. companies indirectly owned by Modi, sought protection under the bankruptcy law approximately one month after the Punjab National Bank filed a lawsuit against him and other entities Large-scale bank fraud. After failing to sell the debtor’s assets, the court appointed Richard Levin as the trustee of the aforementioned company in mid-2018.

Levine filed a lawsuit in March 2019 against Nirav Modi, Mihir Bhansali, who is the director and chief executive officer of these companies, and Ajay Gandhi, who is their chief financial officer. The company and its assets have a 6-year “extensive international fraud, money laundering and embezzlement scheme”.

In Wandsworth Prison in the United Kingdom, Modi was accused of being the main beneficiary of the fraudulent issuance of a pledge, which was part of a conspiracy to defraud PNB of up to Rs 13,570 crore. The court held that the complainant’s argument was reasonable.

Advertisement

“Although the revised complaint described bank fraud against PNB, it also accused the defendant of direct fraud against the debtor.”

In a clear prosecution against Modi, it added: “The defendant’s obstructive behavior apparently contributed to the ongoing fraudulent plan at the time, rather than merely covering up the previously completed plan, thereby satisfying the continuity requirements for the establishment of the model. RICO (Racketeer Influenced and Corrupt Organizations).” The US court instructed the trustee Richard Levine to submit a proposed order and serve copies of it to the lawyers of all three defendants.

News Source : Republicworld.com

Advertisement
Related Topics:
Continue Reading

Tollywood

Day 6 box office receipts for Game Changer: Ram Charan’s film takes another hit, earning over ₹110 crore

Published

2 days ago

on

January 16, 2025

By

Day 6 box office receipts for Game Changer: Ram Charan’s film takes another hit, earning over ₹110 crore

Game Changer box office collection day 6: Ram Charan and Kiara Advani-starrer released in theatres on January 10.
Game Changer box office collection: Ram Charan, Kiara Advani-Game Changer is one the first big releases of this year, and came with huge audience expectations. However the film opened to mixed reviews and has performed decently at the box office. As per the latest version of Sacnilk.com, Game Changer has minted ₹6.11 crore in its sixth day of release. Game Changer is directed by Shankar.

Game Changer box office collection

The report states that Game Changer has now crossed the ₹110 crore mark at the box office. It minted ₹5.55 crore on its first Wednesday, which is the lowest for the film so far. The film had seen a slight growth on its fifth day of release, with ₹10 crore net. The overall collections now stand at ₹112.26 crore.

Game Changer minted ₹51 crore on its opening day, and saw a dip in collections on its second day with ₹21.6 crore. Day three collections were at ₹15.9 crore whereas day four net was ₹7.65 crore. The film saw a sharp decline in its weekdays and is yet to recover. Game Changer is facing stiff competition from a number of releases, which includes Nandamuri Balakrisha’s Daaku Maharaj, Unni Mukundan’s Marco and Allu Arjun’s Pushpa 2: The Rule.

Advertisement

More details

Amid box office concerns for the film, a pirated version of Game Changer was allegedly aired on a local TV channel and shown in buses. Screenshots of the same surfaced on X, which caught the attention of producer Sreenivas Kumar. He took to his X account to demand strict action on it.

A few days ago, the makers of the film had filed a complaint against individuals for allegedly leaking a pirated version of the film online. The complaint also states that before the film’s release, the producers and a few team members were threatened through social media and messaging platforms like WhatsApp, wherein the same alleged pirates demanded money from producers and threatened to leak the pirated version if their demands were not fulfilled.

Game Changer is directed by Shankar and stars Ram Charan, Kiara Advani, and SJ Suryah. The film has also been released in Tamil, Kannada, and Malayalam.

Group Media Publications
Entertainment News Platforms – anyflix.in      
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/

Advertisement

Continue Reading
Anyskill-ads

Facebook

Trending