Modi’s jeweller seeks bankruptcy protection

MUMBAI: The international jewellery business that’s part of the empire controlled by Nirav Modi, the billionaire accused of masterminding India’s biggest bank fraud, was driven towards United States bankruptcy protection after Indian authorities began seizing and freezing assets. The company’s attorney outlined that background at a Manhattan court hearing on Tuesday. Modi, the chief executive officer of the parent company of Firestar Diamond Inc, is under investigation for an alleged US$2 billion (RM7.8 billion) fraud in India.