US Companies Ready To Buy Nirav Modi’s ‘Firestar Diamond’!

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Nirav Modi’s Firestar Diamond Files for Bankruptcy In The US

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Nirav Modi’s company Firestar Diamond Inc. filed for bankruptcy protection in a US Court. In its court papers, the company stated that many buyers were interested to purchase the company. 

Between 2011 and 2017, Nirav Modi secured loans worth thousands of crores through Punjab National Bank Mumbai branch through ‘Letter of Undertakings’ from various international credit agencies. After the scam was exposed, in addition to Nirav Modi and his uncle, it is learned that even top officials from PNB were involved in the $2 Billion scam.

Before the scam was exposed, Nirav Modi and his uncle, Mehul Choksi left India. In its court filing, Firestar Diamond Inc. said, “early expression of interest in purchasing some or all of the debtors’ business operations has been strong”. In other words, this means, companies have come forward to purchase Nirav Modi’s Firestar Diamond Inc.

Meanwhile, the CBI and other law enforcement agencies have attached various properties of Nirav Modi as a part of the case. The CBI has already arrested 13 people in this case. Of which, 7 are from the Punjab National Bank and 6 from the Nirav Modi and Mehul Choksi’s companies. Nevertheless, it is really surprising to see US companies coming forward to purchase Firestar Diamond.

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