Nirav Modi and his family has served notices to recover Rs. 7000 crore - TNBCLive

On Monday, the DRT (Debt Recovery Tribunal) has sent notice to the absconded jeweller Nirav Modi, his accused family members, and his companies to recover more than Rs. 7000 crore dues at the earliest.

The notice issued by the DRT-1 Registrar A Murali came six months after the besieged PND fraud has moved the tribunal in July to recover almost Rs. 7029 crore.

The alleged defendant Nirav Modi and other accused have been marked down from disposing off, transferring or illegally entering into any transactions pertaining to the secured properties, said the notice.

Mr. Modi and other accused have been allowed with time till January 15, 2019, to respond to the notice issued by the DRT, failing which the PNB petition would be decided on the favor of the bank.

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