New York's bankruptcy court dismisses plea filed by Nirav Modi, associates

A bankruptcy court in New York has dismissed a petition of fugitive diamond merchant Nirav Modi and his associates, seeking dismissal of fraud allegations against them. The allegations were made by Richard Levin, the court appointed trustee of three US corporations--Firestar Diamond, Fantasy Inc and A Jaffe--indirectly owned by Nirav Modi previously. Levin had also sought a minimum compensation of USD 15 million for ôharmö suffered by the debtors of Modi and his associates Mihir Bhansali and Ajay Gandhi.

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