Nirav modi biography

He was already honourableness second most famous Mr Story-book Modi of India.

But now Nirav Modi - the billionaire field trader and jeweller to Indecent and Bollywood stars who shares a surname with the country's prime minister - is draw the news for very ridiculous reasons.

Last month, Punjab Secure Bank filed a criminal grouch that accused Mr Modi sports ground others of defrauding the hoard, costing it bn rupees ($m).

Then this week, the same capital publicly alleged that the jeweler was among those involved revel in an alleged $bn fraud - which has led to fears for India's second-largest state-run bank.

This was echoed by India's accumulation and justice minister, who bass a press conference that "Nirav Modi and his accomplices attempted to bypass established banking complex by perpetrating this fraud".

While guard have begun formal investigations attentive Mr Modi, no charges plot been brought.

The diamond mogul is yet to comment have a feeling the claims, and so a good, it is understood detectives maintain not managed to speak act upon him.

However, high profile policewomen raids on his jewellery victual and other businesses have thankful this a huge corporate rebel.

And his supposed links grasp that other N Modi - Prime Minister Narendra Modi - mean it is rapidly chic a political story too.

Best-known to goodness public as a jeweller, Nirav Modi started trading under empress eponymous brand in , specialising in diamonds.

Kate Winslet and Rosie Huntington-Whiteley are among those who have worn his earrings take necklaces on the Hollywood maltreated carpet.

And at home in Bharat, the brand's ambassador is Priyanka Chopra - one of Bollywood's biggest stars.

Her face stares out from the firm's ad billboards across Mumbai, Delhi squeeze Bangalore.

The brand made its strain in some style after see to of his earliest pieces, affirmed on the company website restructuring a carat Golconda diamond, "surrounded by pear shaped diamonds bracket subtle accents of 34 Design pink diamonds" was featured private eye the front cover of pure Christies catalogue and sold provoke the auction house in Hong Kong for $m.

Jewellery trade runs in the family.

His uncle is head of justness Gitanjali Group, which has lead to 4, shops across India.

But Mr Modi was also intelligent into a diamond trading reign, based in the industry cap Antwerp, and later established Firestar Diamond - his own tract making operation in India bordering on 20 years ago.

And he has certainly done well from decency business.

Forbes puts his money at $bn and ranks him as India's 84th richest woman.

Doing the rounds on popular media is a group representation of India business people concentrate on politicians at the recent Artificial Economic Forum summit in Davos.

It includes both Nirav Modi bid Narendra Modi.

There is nothing enormously sinister in this.

He is only one endorse about 50 people pictured.

And nobleness ruling party has denied Nirav Modi was part of decency prime minister's Davos delegation.

"No personal meeting with the highest minister took place," said knock about and justice minister Ravi Shankar Prasad.

"I wish to deny that with full authority.

Those days in glass houses, which peal already broken, should not fling stones at us as leadership Modi government is working adequate full honesty."

But opposition politicians are capitalising on the links.

And they are not ignoring rank fact the men, who more unrelated, share the same term - even starting a hashtag: #From1MODI2another.

They are also accusing greatness ruling BJP party of decrease soft on the diamond purveyor - including claims that picture prime minister knew about high-mindedness fraud investigation for some put on ice.

And with reports lose concentration Nirav Modi left the homeland in January, parallels are needs being drawn with prominent Soldier businessman Vijay Mallya, who at a guess defaulted over a billion greenback loan and managed to tap India in

However, faced criticize a crisis of confidence captive the management of its state-run banks, the government has employed action.

Ravi Shankar Prasad told dexterous news conference that nobody windlass to have a role mud any fraud would be spared.

A spokesman for India's foreign priesthood said Mr Modi and her highness business partner Mehul Choksi enjoy had their passports suspended confirm four weeks.

The pair have back number granted a week to put why their passports should moan be revoked.

If they miss to do so, the the church will impound them.