Fugitive businessman Nirav Modi faced another legal setback as a London court ordered him to pay over USD 10.7 million to Bank of India in a loan recovery dispute. The Court held him personally liable for dues linked to Firestar Diamond FZE.
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The Supreme Court termed an appeal as a “legal misadventure” and imposed a penalty of Rs 1.2 lakh on the appellant for pursuing a loan dispute case. The court criticized the wastage of judicial time and directed the penalty to be deposited within six weeks, with specific allocations for welfare and legal aid. The case involved a loan dispute and mortgage of properties.
