LatestLegal Updates 25 June 2026
London Court Orders Nirav Modi to Pay $10.7 Million to Bank of India
A London court has ordered fugitive diamond businessman Nirav Modi to pay $10.7 million to the Bank of India, as part of a long-running dispute over a loan sanctioned in 2012. The court ruling is seen as a significant victory for the bank, which had been seeking to recover the amount.
London Court Orders Nirav Modi to Pay $10.7 Million to Bank of India
Summary of the Ruling
The London High Court has ordered fugitive diamond businessman Nirav Modi to pay $10.7 million to Bank of India, resolving a long-standing legal dispute over a loan.
- The loan was sanctioned to Firestar Diamond FZE, a Dubai-registered company linked to Modi's business empire, in 2012.
- The court ruled in favor of the bank, ordering Modi to repay the amount plus interest and costs.
- This is a significant victory for Bank of India, which has been seeking to recover the loan since 2017.
No comment has been issued by Modi or his representatives on the court's ruling.
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