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PNB scam: Mehul Choksi does not want to return to India due to mob lynching trend

Billionaire jeweler Nirav Modi's uncle Mehul Choksi, who is a key accused in the multi-crore Punjab National Bank (PNB) scam, has expressed his reluctance to return to India saying he's scared of the current mob lynching trend in the country.

Choksi wrote to a special CBI court on Wednesday requesting the cancellation of a non-bailable warrant issued against him.


“It is most respectfully submitted that there have been various reported cases of mob lynching and one of the cases was in relation to an accused who was mob lynched while being inside a jail. This recent trend of mob lynching is growing and is attempting to giving justice on the road by the general public, and subsequently there is no prosecution because of non-identification of a particular individual is giving rise to the said tendency (sic),” his plea said.

Choksi said there were many threats to his life and hence his reluctance to reveal his current location. A number of people, including his previous employees, have grievances against him, said Choksi.

The salaries of Choksi's existing employees have not been paid due to freezing of his accounts and they might have a reason to hurt him, believes Choksi. He also sees families of employees who have been arrested and customers whose jewellery has been taken away as threats to his life.

Modi and Choksi are among the main accused in the fraud case pegged at over Rs 13,400 crore. Nearly half-a-dozen cases related to the bank fraud have been registered against them, and the duo left the country even before cases were lodged against them in February.

Last week, India's foreign ministry asked UK, France and Belgium to help track down fugitive jeweler Modi and to restrict his movements. According to some reports, Modi is currently in the UK and he is believed to have sought political asylum.

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Indian and Nigerian investors drive surge in foreign-owned UK rental firms

Properties lined up for sale and rent in a suburban neighbourhood.

iStock image.

Indian and Nigerian investors drive surge in foreign-owned UK rental firms

Highlights

  • One in five new buy-to-let companies in 2025 owned by non-UK nationals, up from 13% in 2016.
  • Indian and Nigerian investors lead foreign ownership, targeting regions outside London for higher returns.
  • Young British landlords (18–24) are expanding portfolios despite older investors exiting the market.
  • Regional rent growth diverges: London sees declines, while East & West Midlands and North West report strong rises.

Foreign investors leading

Britain’s buy-to-let sector is undergoing a notable transformation as foreign investors and young Britons reshape the landscape. One in five new buy-to-let companies created in 2025 are owned by non-UK nationals, up from just 13 per cent in 2016. This shift shows that foreign investment in British rental property is growing fast and reshaping who controls the market.

A new report on New Investors in Buy-to-Let reveals that this transformation is driven by a combination of younger British landlords and experienced international operators seeking better returns outside London’s saturated market.

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