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You are here: Home / The staggering rise of India’s super-rich

The staggering rise of India’s super-rich

On 3 May, at around 4.45pm, a short, trim Indian man walked quickly down London’s Old Compton Street, his head bowed as if trying not to be seen. From his seat by the window of a nearby noodle bar, Anuvab Pal recognised him instantly. “He is tiny, and his face had been all over every newspaper in India,” Pal recalled. “I knew it was him.” Few in Britain would have given the passing figure a second look. And that, in a way, was the point. The man pacing through Soho on that Wednesday night was Nirav Modi: Indian jeweller, billionaire and international fugitive. In February, Modi had fled his home country after an alleged $1.8bn fraud case in which the tycoon was accused of abusing a system that allowed his business to obtain cash advances illegally from one of India’s largest banks. Since then, his whereabouts had been a mystery. Indian newspapers speculated that he might be holed up in Hong Kong or New York. Indian courts issued warrants for his arrest, and the police tried, ineffectually, to track him down. It was only by chance that Pal spotted him. A standup comic normally based in Mumbai, he happened to be in London for a run… Read full this story

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The staggering rise of India’s super-rich have 325 words, post on www.theguardian.com at July 10, 2018. This is cached page on Vietnam Dance. If you want remove this page, please contact us.

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