Here's the latest news on Vijay Mallya and Nirav Modi: |
| Vijay Mallya and Nirav Modi |
Extradition Efforts
Indian government is also working hard to extradite Vijay Mallya and Nirav Modi with a UK Crown Prosecution Service (CPS) team even recently visiting Tihar Jail. The team reviewed the prison conditions to confirm whether they are in accordance with international standards, which the British courts emphasized as a major consideration in earlier extradition cases.
Tihar Jail Inspection
The CPS team which included two experts and two British High Commission officials visited the high-security ward of Tihar Jail and engaged with inmates. They reportedly had no complaints about facilities and care that were given to inmates, and this may in turn be used by India to strengthen their extradition claim.
Government Assurance
The UK government has been assured by the Indian government that those extradited will not be subjected to illegal interrogation or torture as apprehended by the UK courts. Governments have even suggested the establishment of a special "enclave" in Tihar Jail to detain high-profile extraditees to help them remain safe and secure.
Pending Extradition Cases
India has up to 178 extradition requests outstanding in other countries and some 20 cases are pending in Britain. Other fugitives on the list include arms dealer Sanjay Bhandari in addition to Mallya and Modi.
Fugitive Profiles
Vijay Mallya: Mallya is the accused defaulting the bank loans amounting to [?]9,000 crore and he is presently living in London.
Nirav Modi: Wanted in India over a [?]13,800 crore Punjab National Bank fraud, Modi was arrested by UK authorities and declared an Indian fugitive economic offender.
More About Vijay Mallya
Vijay Mallya is an Indian business magnate and ex-politician, with a lavish lifestyle and business enterprises. A long look into his life and career:
Early Life and Education
Vijay Mallya was born on December 18, 1955, in Mangalore, Karnataka to Vittal Mallya who is a businessman in the alcoholic beverage industry. He studied at La Martiniere Calcutta and St. Xavier, Kolkata where he earned a degree in commerce.
Business Career
During his career Mallya worked in a number of areas including:
United Breweries Group: he took over the family business and turned it into an international brand, Kingfisher Beer.
Kingfisher Airlines: The airline was established by Mallya in 2005, but was forced to close down in 2012 as the company experienced financial problems.
Royal Challengers Bangalore: He had the IPL cricket team.
Force India Formula 1 Team: Mallya was co-owner of the team that was put into administration.
Legal Issues and Controversies.
The following controversies have marred business dealings of Mallya;
Bank Loan Default: He allegedly defaulted loans amounting to [?]9,000 crore with 17 Indian banks.
Money Laundering: Mallya is alleged to have laundered money and redirected some to his other business ventures and personal pleasures.
Extradition: The Indian government has been asking to have him handed over in the UK to face allegations of committing financial offences.
Current Status
Mallya now lives in the UK and is contesting extradition. In 2020, the court in the UK ruled that he can be extradited to India, although it has been postponed on several occasions due to a number of reasons. A court in the UK recently affirmed a bankruptcy order against him, connected with a [?]11,101 crore debt.
Personal Life
Mallya is married twice and has four kids. His lustful lifestyle is well known and he has also been referred to as King of good times.
More About Nirav Modi
Nirav Modi is an Indian jewellery designer and a businessman aged 54 years born on February 27, 1971, in Antwerp, Belgium. Firestar Diamond was a well known business in the diamond industry at one time. But now he is undergoing serious charges and court cases.
Scandals and Accusations.
PNB Scam: Nirav Modi is alleged to have defrauded Punjab National Bank (PNB) of more than [?]13,000 crore by way of fraudulent Letters of Undertaking (LOUs). He supposedly used these LoUs to take foreign credit with other Indian lenders.
Money Laundering: Nirav Modi has had its assets worth [?]29.75 crore attached by the Enforcement Directorate (ED) relating to the PNB fraud case.
Extradition: Indian government has been pursuing extradition of Nirav Modi, who is serving a jail term in the UK. His extradition is in progress.
Current Status
UK Court Rulings: UK courts have denied Nirav Modi bail numerous times because of the colossal SNB fraud and the possibility of absconding.
Extradition Appeals: Modi has tried to seek extradition appeal but his request has been rejected. He has explored the majority of his legal avenues in the UK.
Assets Seized: ED has confiscated different assets that belonged to Nirav Modi, such as paintings, luxury cars, and expensive watches.
Personal Life
Family: Nirav Modi has been involved in PNB scam together with his brother Nehal Modi and his sister Purvi Modi. After the US arrested Nehal Modi and was bailed out by Purvi after cooperating with the investigation.
Education: Nirav Modi went to The Wharton School in the University of Pennsylvania but did not graduate.
Nationality and Background: He is an Indian born within the state of Gujarat, namely at the Palanpur.
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