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Buyers interested in Nirav Modi’s bankrupt firm Firestar Diamond, court filings show

Nirav Modi’s US firm Firestar Diamond Inc filed for bankruptcy protection on Feb. 26 in the United States

business Updated: Mar 01, 2018 11:25 IST
Reuters, New Delhi
Nirav Modi,PNB fraud,Firestar Diamond
Jeweller Nirav Modi’s US firm, Firestar Diamond, has received strong early expressions of interest from buyers.(Aniruddha Chowdhury/Mint)

A bankrupt US firm of jeweller Nirav Modi, accused in the $2 billion PNB fraud in India, has received strong early expressions of interest from buyers, according to court filings.

Firestar Diamond Inc filed for bankruptcy protection on February 26 in the United States, following accusations that other firms led by Modi and his uncle colluded with officials of Punjab National Bank to secure unauthorised loans starting 2011.

Investigators have subsequently attached or seized various assets belonging to Modi and his companies. Firestar is not named in the police complaint.

First Published: Mar 01, 2018 11:11 IST