firestar in A Sentence
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Firestar is the exclusive distributor of Rio Tinto's Argyle pink diamonds in India.
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According to the Reserve Bank of India(RBI) data, these two firms subsequently invested the entire money in Firestar International through FDI.
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After moving to India in 1989, and training in all aspects of the diamond trading business, he founded Firestar in 1999(Formerly known as Firestone), a diamond sourcing and trading company.
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According to the ED, the $ 50 million(Rs 341 cr) transferred to Lili Mountain was brought back to Firestar International Pvt Ltd in the form of foreign direct investment(FDI) through a web of offshore firms.
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The ED has said that $ 4.97 million(Rs 34 crore) was directly diverted to two of Modi's firms in the US- Firestar Diamond Inc and A Jaffe Inc, which have both filed for bankruptcy in a US court- and $ 50 million(Rs 341 crore) was given to Deepak Modi.
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