The Ministry of Corporate Affairs of the Union of India filed with the U.S. Bankruptcy Court a Joinder Statement to Punjab National Bank’s motion for entry of order directing the appointment of a Chapter 11 Trustee in the Firestar Diamond case pursuant to 11 U.S.C. section 1104(a). The statement notes, “The Ministry of Corporate Affairs of the Union of India (the ‘Ministry’), by and through its undersigned counsel, joins in Punjab National Bank’s (‘PNB’) Motion for the Entry of an Order Directing the Appointment of a Chapter 11 Trustee Pursuant to 11 U.S.C. section 1104(a) [ECF No. 181] (the ‘Motion’) out of a concern that the Debtors, through Mihir Bhansali and perhaps others employed by the Debtors, may have engaged in post-petition acts that either perpetrated the Nirav Modi fraud or hindered the ongoing investigations into the fraud. In order to ensure the integrity of the investigation process, the Ministry joins in the Motion. The Ministry reserves all rights with respect to the Motion, including the right to supplement this Joinder at or prior to the hearing on the Motion.”
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