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Indian billionaire

India sends extradition request to UK for fugitive billionaire

NEW DELHI: India has asked Britain to extradite billionaire jeweler Nirav Modi, one of the main accused in the $2 billion loan fraud at state-run Punjab National Bank (PNB). Modi’s whereabouts have been unknown since PNB in January said that two jewelry groups headed by Modi and his uncle, Mehul Choksi, defrauded the bank for years by raising foreign credit using fake guarantees. The international police agency Interpol last month issued a request to find and arrest Modi. But on Thursday, India’s foreign affairs…

Interpol seeks arrest of Indian billionaire Modi

NEW DELHI: Interpol has issued a red notice request to find and arrest fugitive Indian billionaire jeweler Nirav Modi, who is at the heart of a $2 billion-plus bank fraud case, the international agency said on its website. Federal police last month asked Interpol to issue a red notice to locate Modi, who has been charged in relation to India’s biggest banking fraud. The Financial Times, citing Indian and British officials, said last month that Modi had fled to Britain claiming political asylum.…

Indian billionaire proposes funding Facebook rival

NEW DELHI: An Indian billionaire who promised to help fund a rival to Facebook said Wednesday he had been "overwhelmed" with the response as the world grapples with concerns about data privacy. Anand Mahindra, whose Mahindra Group business empire spans everything from cars to real estate, sparked a flurry of brainstorming as Facebook reels from a scandal over the misuse of its user data. The social media giant has been under pressure to explain how data on up to 50 million users was allegedly taken from Facebook and…