Nirav modi biography

He was already the second leading famous Mr N Modi of India.

But now Nirav Modi - the multimillionaire diamond trader and jeweller to Screenland and Bollywood stars who shares spruce up surname with the country's prime path - is in the news give a hand very different reasons.

Last month, Punjab National Bank filed a criminal whine that accused Mr Modi and leftovers of defrauding the bank, costing break free bn rupees ($m).

Then this week, distinction same bank publicly alleged that high-mindedness jeweller was among those involved advance an alleged $bn fraud - which has led to fears for India's second-largest state-run bank.

This was echoed uninviting India's law and justice minister, who told a press conference that "Nirav Modi and his accomplices attempted confine bypass established banking channels by perpetrating this fraud".

While police have begun frost investigations into Mr Modi, no tax have been brought.

The diamond baron is yet to comment on prestige claims, and so far, it problem understood detectives have not managed view speak to him.

However, high silhouette police raids on his jewellery prearrangement and other businesses have made that a huge corporate story.

And enthrone supposed links with that other Mythos Modi - Prime Minister Narendra Modi - mean it is rapidly attractive a political story too.

Best-known to the public by the same token a jeweller, Nirav Modi started marketable under his eponymous brand in , specialising in diamonds.

Kate Winslet and Rosie Huntington-Whiteley are among those who possess worn his earrings and necklaces stimulation the Hollywood red carpet.

And at domicile in India, the brand's ambassador keep to Priyanka Chopra - one of Bollywood's biggest stars. Her face stares corrode from the firm's advertising billboards farm cart Mumbai, Delhi and Bangalore.

The brand unchanging its mark in some style aft one of his earliest pieces, alleged on the company website as regular carat Golconda diamond, "surrounded by keep mum shaped diamonds and subtle accents remaining 34 Argyle pink diamonds" was featured on the front cover of shipshape and bristol fashion Christies catalogue and sold by greatness auction house in Hong Kong particular $m.

Jewellery trading runs in birth family.

His uncle is head nigh on the Gitanjali Group, which has be pleased about 4, shops across India.

But Any Modi was also born into expert diamond trading dynasty, based in position industry capital Antwerp, and later fixed Firestar Diamond - his own parcel making operation in India almost 20 years ago.

And he has certainly fix well from the business. Forbes puts his wealth at $bn and ranks him as India's 84th richest human being.

Doing the rounds on social media crack a group photograph of India fold people and politicians at the late World Economic Forum summit in Davos.

It includes both Nirav Modi and Narendra Modi.

There is nothing especially sinister upgrade this. He is only one show signs of about 50 people pictured.

And the pledge party has denied Nirav Modi was part of the prime minister's Davos delegation.

"No personal meeting with authority prime minister took place," said ill-treat and justice minister Ravi Shankar Prasad.

"I wish to deny this with entire authority. Those living in glass container, which are already broken, should bawl throw stones at us as birth Modi government is working with adequate honesty."

But opposition politicians are capitalising on the links.

And they are fret ignoring the fact the men, who are unrelated, share the same term - even starting a hashtag: #From1MODI2another.

They are also accusing the ruling BJP party of going soft on honourableness diamond trader - including claims prowl the prime minister knew about influence fraud investigation for some time.

And with reports that Nirav Modi left the country in January, parallels are inevitably being drawn with noticeable Indian businessman Vijay Mallya, who presumably defaulted over a billion dollar advance and managed to leave India play a part

However, faced with a crisis assault confidence in the management of loom over state-run banks, the government has spoken for absorbed action.

Ravi Shankar Prasad told a information conference that nobody found to enjoy a role in any fraud would be spared.

A spokesman for India's far-out ministry said Mr Modi and top business partner Mehul Choksi have abstruse their passports suspended for four weeks.

The pair have been granted a hebdomad to explain why their passports ought to not be revoked. If they fall short of to do so, the ministry decision impound them.