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DRT serves notices to Nirav Modi, family to recover Rs 7,000 cr

To recover Rs 7,000 crore in dues, the Debt Recovery Tribunal (DRT) on Monday served notice to absconding diamantaire Nirav Modi, his family members and his companies.

Sakshi Chaturvedi

Sakshi ChaturvediBy Sakshi Chaturvedi

Published on 10 Dec 2018 7:45 AM GMT

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New Delhi: To recover Rs 7,000 crore in dues, the Debt Recovery Tribunal (DRT) on Monday served notice to absconding diamantaire Nirav Modi, his family members and his companies.

The notice reads, "The accused-defendants Nirav Modi and others have been barred from disposing off, transferring, or entering into any transactions pertaining to the secured properties."

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They have been given time till January 15, 2019, to reply to the DRT notice, failing which the PNB plea would be decided ex-parte

The notices by the DRT-1 Registrar, A. Murali, came six months after the beleaguered Punjab National Bank (PNB) had moved the tribunal in July to recover around Rs 7,029 crore.

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Sakshi Chaturvedi

Sakshi Chaturvedi

A journalist, presently working as a Sub-Editor at newstrack.com.

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