What do you think?
Rate this book
Flawed: The Rise and Fall of India’s Diamond Mogul Nirav Modi
In early 2018, the implosion of Nirav Modi’s Firestar Diamonds International, on its way to becoming India’s first truly global luxury company, threw the country’s diamond industry and its banking system into utter disarray. Allegations against Modi, of defrauding banks to the tune of US$1.8 billion, brought a whole business community under scrutiny and escalated rapidly into an international scandal.
Based on personal encounters, incisive interviews and meticulous research, this riveting narrative exposes the incredible twists and turns of the Nirav Modi story – of a third-generation diamantaire who moved from Belgium to India to apprentice with his uncle, Mehul Choksi, an established diamond merchant with extensive connections; of an astute businessman whose firm grip over an intercontinental supply chain saw his branded jewellery stores dotting not just every Indian metropolis but also marquee locations such as London, New York and Hong Kong; and of a reclusive, inscrutable man with a penchant for the high life that possibly led him to fly too close to the sun.
As the Nirav Modi saga – complete with his arrest on international soil, rejected bail pleas, extradition theatrics and the frenzied pursuit of diamond-trading minutiae by investigative agencies across three nations – continues to make headlines, Flawed recounts in close, compelling detail the rise of a global player and his equally dramatic fall. Arresting and revelatory, it raises indispensable questions about how one man’s drive to succeed at all costs can jeopardize an entire ecosystem.
Based on personal encounters, incisive interviews and meticulous research, this riveting narrative exposes the incredible twists and turns of the Nirav Modi story – of a third-generation diamantaire who moved from Belgium to India to apprentice with his uncle, Mehul Choksi, an established diamond merchant with extensive connections; of an astute businessman whose firm grip over an intercontinental supply chain saw his branded jewellery stores dotting not just every Indian metropolis but also marquee locations such as London, New York and Hong Kong; and of a reclusive, inscrutable man with a penchant for the high life that possibly led him to fly too close to the sun.
As the Nirav Modi saga – complete with his arrest on international soil, rejected bail pleas, extradition theatrics and the frenzied pursuit of diamond-trading minutiae by investigative agencies across three nations – continues to make headlines, Flawed recounts in close, compelling detail the rise of a global player and his equally dramatic fall. Arresting and revelatory, it raises indispensable questions about how one man’s drive to succeed at all costs can jeopardize an entire ecosystem.
- GenresBusinessNonfiction
150 pages, Kindle Edition
Published August 25, 2019
7 people are currently reading
115 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 10 of 10 reviews
October 18, 2019
This is a well researched book about the diamond industry . Nirav Modi is a very Interesting man to know and equally interesting - his way of operations .
Enjoyed reading it.
Enjoyed reading it.
April 13, 2020
Well researched and wonderfully written narrative of how one of the biggest frauds in Indian Banking industry unfolded. The writing style is really captivating. The author covers many details of the diamond industry that help us understand the issues in the system and how Modi took advantage of them. Highly recommended!
September 20, 2021
Author's explanation of the fraud is detail and seems well researched.
December 30, 2024
A good account of one of the largest banking frauds in India. Very well researched and a must read for people in banking industry
October 9, 2019
Ever thought about reading about Nirav Modi, Well I have to say that this is the most unexpected read of the Year and also the most unpredictable title.
I love to read non fiction and this is one of the reason. I have read about cries, corruption, interviews, and much more but whenever Nirav modi name comes the only thought which strikes are the News headlines.
Flawed, The rise and FALL of India’s Diamond Mogul.
Mostly the major headlines of news are the result of most corrupt or most popular names, and once developed that particular image is retained in the mind of a majority.
Because after the news is published or broadcasted all that is shows is “All that is required for us to know” and hardly anyone haves tie to do a deep search about that particular topic or person.
I was quite skeptical when the book can in list, as I had a very different idea of what the book will present. (Never try to judge any book, neither by cover nor by title)
What lead “Diamonds are forever” too fall, making their shine feeble and image negative, the reason and the back story.
Flawed, presents the personality, business story, Bank Fraud and several aspects related to Headlines. All you’ve heard about.
This is a great book to give you insight, over reality and the complete story. It is for everyone who wants to know beyond the headlines which were presented.
Pavan C Lall, associate at the Business Standard interviewed Nirav Modi in 2015, then the reason was different, Never has been the actions of a man altogether changed the nature of any business, putting banks on edge.
Many Questions still remain but many are now answered.
The unraveling corporate, industry scandals, and conspiracies drives winner of CITI journalistic excellence awards 2016, laying all of them bare.
I love to read non fiction and this is one of the reason. I have read about cries, corruption, interviews, and much more but whenever Nirav modi name comes the only thought which strikes are the News headlines.
Flawed, The rise and FALL of India’s Diamond Mogul.
Mostly the major headlines of news are the result of most corrupt or most popular names, and once developed that particular image is retained in the mind of a majority.
Because after the news is published or broadcasted all that is shows is “All that is required for us to know” and hardly anyone haves tie to do a deep search about that particular topic or person.
I was quite skeptical when the book can in list, as I had a very different idea of what the book will present. (Never try to judge any book, neither by cover nor by title)
What lead “Diamonds are forever” too fall, making their shine feeble and image negative, the reason and the back story.
Flawed, presents the personality, business story, Bank Fraud and several aspects related to Headlines. All you’ve heard about.
This is a great book to give you insight, over reality and the complete story. It is for everyone who wants to know beyond the headlines which were presented.
Pavan C Lall, associate at the Business Standard interviewed Nirav Modi in 2015, then the reason was different, Never has been the actions of a man altogether changed the nature of any business, putting banks on edge.
Many Questions still remain but many are now answered.
The unraveling corporate, industry scandals, and conspiracies drives winner of CITI journalistic excellence awards 2016, laying all of them bare.
January 16, 2020
A well written book about Nirav Modi. Lots of information about his life, his scams, his family and, most important kya about the joke of a corrupt indian banking system--makes one think of the country as a banana republic.
Modi is not a rags to riches story for he was born wealthy as a 3rd generation diamond trader. His is a riches to greed story. He played the system, defrauding punjab national bank of unsecured loans thanks to corrupt officers who did not do the due diligence.
The author says Modi was an efficient businessman who invested in talented manpower, worked long hours and gave an international face to his business. I don't agree with this as he just failed to keep track of his expenses, with high priced stores in the West devoid of footfall, multi-million dollars being spent on events and stars with no returns.
Ultimately the man fell flat ob his face and now rots in a British prison.
I just hope that he gets his due, whether he is extradited to india or not.
More important, the indian babus who helped him never see the sunlight outside a prison for the rest of their greedy lives.
Modi is not a rags to riches story for he was born wealthy as a 3rd generation diamond trader. His is a riches to greed story. He played the system, defrauding punjab national bank of unsecured loans thanks to corrupt officers who did not do the due diligence.
The author says Modi was an efficient businessman who invested in talented manpower, worked long hours and gave an international face to his business. I don't agree with this as he just failed to keep track of his expenses, with high priced stores in the West devoid of footfall, multi-million dollars being spent on events and stars with no returns.
Ultimately the man fell flat ob his face and now rots in a British prison.
I just hope that he gets his due, whether he is extradited to india or not.
More important, the indian babus who helped him never see the sunlight outside a prison for the rest of their greedy lives.
March 29, 2022
Let down!
It is not easy to write a biography.lt takes lot of pains taking research into the real person but this is just a googled together mish mash of all the articles and projecting it as a book!!
I was seeking more, into Modi's history, details into his business, his sudden success but the book just glosses over all these topics without going in depth.
Authors intention is to make a quick buck of flawed gentleman.
It is not easy to write a biography.lt takes lot of pains taking research into the real person but this is just a googled together mish mash of all the articles and projecting it as a book!!
I was seeking more, into Modi's history, details into his business, his sudden success but the book just glosses over all these topics without going in depth.
Authors intention is to make a quick buck of flawed gentleman.
December 18, 2019
I thought the book was very well researched and the author has obviously spent a great deal of time tracking Nirav Modi. I wish he would write the sequel! It reads like an international thriller even though every detail is backed by research and validated.
September 30, 2019
Interesting read about the diamond industry and one of the biggest scams in India. The author has undertaken a lot of research on this. The trail uncovered is mind boggling. Enjoyed the read.
December 12, 2019
Well researched book. Quiet a lot of insights on how the diamond industry works. And how the prices are still a mystery for the public
Displaying 1 - 10 of 10 reviews