Business Companies Legal

Modi relative Choksi surrendered his Indian passport and acquired Antigua

“Mehul Choksi has surrendered his Indian passport to the High Commission in Guyana,” sources said.   The development has been confirmed by high-level sources at India’s Ministry of External Affairs (MEA).   Choksi deposited his cancelled Indian Passport No. Z3396732 and a mandatory fee of $177 for the other formalities, as per IANS news agency. Read More…

Business Companies Legal Opinion

Modi says case used for Political purpose and so stay in India not safe for him

According to the Central Bureau of Investigation (CBI), Modi and his uncle Mehul Choksi cheated the Punjab National Bank (PNB) of Rs 14,000 crore by fraudulently securing Letters of Undertaking (LoUs) to obtain credit overseas.   However Fugitive diamond merchant Nirav Modi, a prime accused in the PNB fraud case, told a court in Mumbai Read More…

Companies National

BJP Minister says unfair to call a one-time loan defaulter malaya as ‘chor’

  BJP Powerful Senior Leader and Union Minister Nitin Gadkari Thursday said ” it is unfair to tag a one-time loan defaulter Vijay Mallyaji as a “chor (thief).   He added that the embattled businessman has a four-decade-long track record of timely debt servicing.   Gadkari, however, clarified that he has no business dealing with Read More…

Companies Europe Legal

England’s chief magistrate cleared but Mallya extradition could be a longer Process

Indian tycoon Vijay Mallya should be extradited from Britain to India to face fraud charges resulting from the collapse of his defunct Kingfisher Airlines, a London court ruled on Monday.   India wants to bring criminal action against Mallya, 62, whose business interests have ranged from aviation to liquor, over $1.4 billion in loans Kingfisher Read More…