For citizenship of Vanuatu, Nirav Modi had, in November 2017, transferred $195,000 from his personal account to one of the 18 authorised agents of the Vanuatu government who facilitate Citizenship by Investment program of the country.
The DRI alleged that Indonesian coal was directly imported from ports in that country to India while import invoices were routed through one or more intermediaries based in Singapore, Hong Kong, Dubai and the British Virgin Islands to artificially inflate its value.
This comes weeks after the High Court of Singapore ruled against Adani Global Pte Ltd, which had moved the Singapore court, seeking a stay on a lower court’s demand to produce crucial documents pertaining to coal imports from Adani firms.
According to officials familiar with the probe, Nirav Modi, accused of a Rs 13,600-crore bank fraud, could be provisionally arrested by the UK authorities this week and presented before a lower court there.
In its annual report of financial year 2016-17, BPCL said its Mumbai refinery had set a “high safety standard for itself” and “received an excellent rating for achieving all MOU (memorandum of understanding) targets related to safety”.