Brief by Shorts91 Newsdesk / 01:10pm on 24 Jun 2026,Wednesday India Global
Fugitive businessman Nirav Modi has suffered a major legal setback after a London court ordered him to pay more than USD 10.7 million (over ₹100 crore) to Bank of India in a loan recovery case. The London Circuit Commercial Court ruled that Modi is personally liable for the debt because he had provided a personal guarantee for a loan granted to Firestar Diamond FZE, a Dubai-based company linked to his Firestar Group. The court held that Modi must repay the outstanding dues, including the principal amount and accrued interest. The ruling marks an important victory for Bank of India in its efforts to recover unpaid loans. (PC: India Today)
