There are many questions about Nirav Modi. How could he pull what he did so smoothly? Was his plan always to game the system? And more importantly, who were the unseen and unknown forces behind the whole fraud? We have Pavan Lall, senior business journalist who has authored the book 'Flawed', which is a deep dive into the whole case. The podcast covers many important aspects of it.
Pavan Lall is a senior business journalist and has written for titles that include Fortune Magazine, Business Standard, MoneyControl, Business World, The Dallas Business Journal and The Telegraph.
We're discussing about Nirav Modi today, his tryst with the diamond industry and the fiasco which took not just India, but multiple governments across the world by clutches. We have Pavan lal with us today. He is senior business journalist and has written for titles that include the Fortune Magazine, Business Standard, Money Control, Business World, the Dallas Business Journal and The Telegraph. He has authored the book Flawed, subtitled Rise and Fall of India's diamond mogul Nirav Modi. Today's episode is structured very differently. We asked our listeners, what would they like to know about the fiasco and the book, and we selected the most common ones out of them. I hope this becomes an interesting section.
Namaste I'm Shubham Aggarwal and you're listening to Secrets of Storytellers. A podcast where I interview best selling business authors share stories and concepts from their journeys. Don't miss out the last section, where we get to the secrets from the storyteller themselves. Hi Pavan welcome to secrets of storytellers. How are you?
Pleasure to have you. Pavan it's quite interesting how Nirav Modi gamed the entire system? What was your intent behind covering the entire episode before we move to the story?
Yeah, right. Right. So why the name flawed? I mean, what about the story is flawed?
Right Interesting . So I believe, Mehul Choksi, Nirav Modi's uncle played an important role in his plan from the get go, who were some of the other characters in this story, and how important were they in the entire picture.
Right, And do you think the intentions were wrong from right from the beginning? Or do you think he saw an opportunity? And you know, he started gaming the system and he started enjoying it. And that's where it became flawed, as we call it
Hmm, but then what I'm curious about is the lot of checks in securities in place, right, across the system. He was still able to find loopholes and, you know, game it. Or is it that there were bigger unknown forces in the background, which were aiding him and supporting him?
So then is the is the concern much bigger than than we feel? Because you know, the frauds have bigger volumes and happening on a regular basis, you come you hear of them from different areas and industries. Is it a bigger concern here that we have given the entire system how they work in India, at least?
Yeah, that does. But have you seen any considerable or substantial work towards this this direction? Has there been anything to do to stop such cases happening again and again?
Yeah, which is even bigger problem, I think.
I hear what you say, I mean, probably that is the core reason towards a lot of smaller corruption also happening at many levels, probably, especially with the government sector. So I want to know, what does it take for a person like, you know, any of these people who have done such fiascos, it is a big risk, it's a big step to fraud a system? Does it only have to do with the appetite for risk anyone has? Or is it? Is it more than that?
Yeah. Interestingly, I was having a word with my friend, Naveen, just the other day. And he mentioned about this movie called Story of Lie, if I'm correct. And that that portrays that particular instinct, or that particular trait in a person where he lies. And no one catches him. And he lies again, and then he teaches his son. And so the, the chain goes on. Yeah, I believe that at the core of it is something that is true.
Hmm. So coming back to the book, what what has the book done for your? How has it performed? What do you think while you were drafting this story?
Okay. There was a lot of risk, I believe, is it?
So are you working on any other assignment? Are you working on any other book that's upcoming?
Great, Great Pavan. So this brings us to the last section of the podcast and this is an interesting section, something which is common across all the episodes that I've done. As you know, the show is called Secrets of Storytellers. I want to ask you one secret about the book, or probably about the journey while you're writing the book that you have not really spoken about or shared. So what would that be?
Interesting. So Pavan was authoring a book. You're a journalist and you're senior business journalists, and you've been writing for years. But was authoring a book always, always on the cards or, you know, was it serendipity that it happened that way?
Wonderful. Great. So anyone who's interested to know more and the entire story behind the Nirav Modi's case must go and check out the book Flawed, and it was great talking to you Pavan. And thank you for making the time to do this. And I hope you enjoyed the session as well.
Thank you so much, and thank you to all the listeners. This is Shubam signing off until the next secret and the next storyteller. Bye bye.
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