Debt Recovery Tribunal notices to Nirav Modi, family

Nirav Modi

Mumbai, Dec 10: The Debt Recovery Tribunal (DRT) on Monday issued a notice to fugitive diamantaire Nirav Modi, his family members, and his companies to recover over Rs 7,000 crore in dues.

The notices by the DRT-1 Registrar, A. Murali, came nearly six months after the beleaguered Punjab National Bank (PNB) had approached the tribunal in July to recover around Rs 7,029 crore.

The accused-defendents Nirav Modi and others have been barred from disposing off, transferring, or entering into any transactions pertaining to the secured properties, the notice stated.

The absconding jeweler and his kin have been given time till January 15, 2019, to reply to the DRT notice, failing which the PNB plea would be decided ex-parte.


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