Pragnesh Modhwadia had been riding high just six weeks ago. The managing partner of what had recently transformed into Axiom Ince threw a lavish party at a Mayfair club in London, far from the usual atmosphere of a City legal practice.
At the time, Modhwadia held the position of managing partner at Axiom, and he had successfully orchestrated the acquisition of Ince & Co, a once-prestigious shipping law firm that had been among the six legal service companies listed on the London Stock Exchange.
Under Axiom's management, Ince & Co was delisted, and Modhwadia, 40, was filled with optimism about its future as a privately-owned entity, The Times reported.
Modhwadia's confidence was so high that he brought lawyers from Ince's international branches in Hong Kong, Shanghai, Dubai, and Cyprus for an uplifting gathering at the London Reign, a club known for its extravagant ambiance, complete with barmaids serving champagne in a stunning art deco-themed room.
Club managers had gone the extra mile, setting up translucent signs that seemed to hover above the dancefloor, bearing the message "Welcome back King Prag" strongly hinting that Modhwadia, had frequented the venue on previous occasions.
However, within the span of six weeks, the landscape of the competitive law firm acquisition scene shifted dramatically. In July, Axiom had also completed the acquisition of Plexus Legal out of administration.
Fast forward to this week, and Modhwadia found himself in the High Court, situated just a mile and a half from the London Reign, to confront allegations of defrauding his own law firm of £64 million.
A City source familiar with Axiom described Modhwadia as a charismatic figure who often embodied the "work hard, play hard" ethos. However, the same source lamented that the entire endeavor had unraveled into a chaotic situation.
Notably, a few weeks after the extravagant party and preceding his court appearance, Modhwadia, a solicitor since 2008, joined the ranks of three former partners at Axiom who faced suspension by the Solicitors Regulation Authority (SRA).
The SRA revealed that Pragnesh Modhwadia faced an investigation for alleged dishonesty, while Shyam Mistry and Idnan Liaqat were suspended due to suspected breaches of statutory rules governing solicitors' accounts.
It has been confirmed that Mistry is in the process of appealing the SRA's decision to suspend him.
When the regulatory intervention occurred, the remaining senior lawyers at Axiom swiftly reassured stakeholders by stating that the firm's operations would continue uninterrupted.
They emphasised that the directors and partners had taken immediate measures to safeguard the interests of the business, clients, and employees. Prioritising the well-being of the latter remained their focal point while charting the best and most viable course forward.
Furthermore, they initiated High Court proceedings against Modhwadia, alleging "the misappropriation of very significant sums of money" from the firm.
This legal claim remains ongoing. However, officials at the regulator refrained from confirming at the time whether they were investigating fraud, leaving uncertainty regarding whether they had forwarded their findings to law enforcement agencies.
During the court proceedings this week, legal representatives for Modhwadia disclosed that approximately £64 million had been withdrawn from Axiom's client account.
These funds were purportedly utilised, in part, for the acquisition of two law firms, as well as for the purchase of six properties and funding construction work on seven additional properties.
Regarding the investigation, the regulator refrained from providing specific comments on its details. However, they emphasised that the utilisation of client funds for a firm's internal purposes was explicitly prohibited under the established accounting rules.
David Orchard, an attorney from the Brooke Consultancy, and one of the two solicitors representing Pragnesh Modhwadia, expressed Modhwadia's belief that with proper management, there should be adequate assets available to satisfy the claims made by Axiom Ince Limited and other creditors.
Orchard emphasized Modhwadia's commitment to full cooperation with Axiom, with the goal of securing the most favorable outcome for clients, creditors, and staff.
He also clarified that Modhwadia did not contest a freezing order on his funds, a detail revealed during court proceedings. Notably, Modhwadia's assets have dwindled to a sum in the tens of thousands of pounds according to Law Society Gazette.
Jonathan Metliss, Axiom's chairman, a highly experienced City lawyer with over five decades of expertise and a professed passion for business dealings, finds himself in a situation of considerable embarrassment due to the unfolding events.
Metliss, at the age of 74, holds a prestigious reputation in London's financial district, boasting a career that includes advisory roles dating back to his involvement with the Beatles through his father's accounting services.
Despite his illustrious career, Metliss, along with other senior figures at Axiom, has opted to remain silent in response to inquiries about the firm's current challenges.
Critics argue that this episode not only reflects negatively on regulatory authorities but also on the partners at Pinsent Masons, the firm responsible for overseeing the regulatory aspects of Ince's sale to Axiom.
Some maintain that both the regulatory body and the firm should have conducted more thorough due diligence before granting approval for the deal.
Requests for comments directed at the SRA and Samantha Palmer, the partner at Pinsent Masons believed to have managed Ince's purchase from administration, have gone unanswered.
THE UK government has been temporarily stopped from finalising a deal with Mauritius over the Chagos Islands, after a High Court judge granted an injunction on Thursday.
The injunction prevents Britain from going ahead with an agreement that would transfer sovereignty of the Chagos Islands to Mauritius, while allowing the UK to keep control of the Diego Garcia military base in the Indian Ocean.
The proposed deal, which was first announced in October, includes a 99-year lease for the UK to retain the base on Diego Garcia, the largest island in the Chagos archipelago.
The injunction was issued after legal action brought by Bernadette Dugasse and Bertrice Pompe, both British nationals born on Diego Garcia.
The Telegraph reported that prime minister Keir Starmer had been expected to attend a virtual signing ceremony with officials from the Mauritian government.
In 1965, Britain separated the Chagos Islands from Mauritius – which became independent in 1968 – to establish the British Indian Ocean Territory.
No official financial terms of the deal have been made public, though media reports have estimated the cost to Britain at 9 billion pounds.
US president Donald Trump, who took office in November, expressed his support for the agreement in February following a meeting with Starmer in Washington. Former president Joe Biden had also backed the deal.
WEST MIDLANDS Police has been urged to maintain its presence at Birmingham’s waste depots, as rubbish collections were again hit by picket line protests.
The city’s all-out bin strike, triggered by a dispute between the city council and Unite the union, caused fresh disruption on Monday (19) morning, with the local authority blaming striking bin workers at its three depots.
The Labour-run council warned residents that “very few” of its waste lorries had been deployed and the number of collections would be impacted as a result. This latest turmoil came after West Midlands Police reportedly reduced the number of officers at the depots. The force also confirmed the use of powers, under Section 14 of the Public Order Act, was “no longer in place”.
The development prompted the Liberal Democrat group at the council to call on the police to provide a “consistent presence” amid fears of bin bags piling up.
“At the end of March, a major incident was announced,” group leader Roger Harmer said. “Human-height mounds of black bags became commonplace, the build-up of rotting rubbish attracted rats.
“Pavements were getting blocked and parts of the city were beginning to smell. It was a national embarrassment and terrible for the city’s reputation.”
He added, “Back then, I called upon chief constable Craig Guildford to deal with the problem or consider his position.
“Within days, the trucks were moving and piles of waste were cleared.”
Harmer said the strikers had a “legitimate reason” to protest and should be allowed to speak against the council’s administration amid fears over pay.
But he added: “Residents’ health and wellbeing should always be the priority and waste clearance is a vital service that must continue. Workers who are not striking must be allowed to do their job and keep the city clear of hazardous pile ups. The police have powers to stop strikers from obstructing working crews – they should not wait for the city to reach crisis point again before acting. So I ask Mr Guildford once again: police the picket lines. A consistent police presence is needed until the strikes are resolved.”
Previously responding to Harmer’s call to “deal with the problem or consider his position”, Guildford fired back on BBC Radio WM earlier this year: “Our job is to make sure we police proportionally, that we are fair, and that we facilitate lawful protest – and at the same time, people wanting to go to work.
“That’s our job. We’ve got ample resources to police these things and the commander on the ground will increase or reduce that resource as he or she sees fit”.
In a more recent statement on its presence at the pickets, West Midlands Police said: “Following a high court ruling last week on the use of section 14 powers, we have reassessed the legal position and the powers available to us.
“The section 14 legislation is no longer in place as the issue does not currently meet the threshold.
“We will continue to assess the situation and ensure our presence at the sites is in line with our core policing responsibilities.”
The Birmingham bins strike dispute was sparked by the council’s plans to scrap a Waste Recycling and Collection Officer (WRCO) role, which Unite said would force “dedicated workers onto pay levels barely above the minimum wage”.
The council has insisted in the past that a “fair and reasonable offer” has been made, with council leader John Cotton adding it “cannot and will not entertain anything that would re-open an equal pay liability”.
NORFOLK’S newest councillor has found himself in hot water just days into the role, following the emergence of social media posts in which he said Islam should be banned and Muslims deported.
James ‘Jimmi’ Lee, who was elected to represent Acle for Reform at a Broadland Council byelection last Thursday (15), is at the centre of a row over the messages on his X account.
Officials at the authority said they were aware of concerns about the posts and that Lee would receive training to ensure that from now on he would abide by its code of conduct.
Lee and Reform UK declined to comment, but his posts have been deleted since the Eastern Daily Press (EDP) approached the councillor and the party.
Opponents on the council described the messages as “racist and Islamophobic” and said they raised questions over Reform’s vetting of its candidates. In April 2024, Lee responded to a comment on X describing Islam as a “divisive, fundamentalist hate cult”. He said this was a “lovely and accurate post”.
In another post later that month, he replied to a set of images featuring politicians of black and Asian heritage, including Rishi Sunak and Sadiq Khan.
Lee’s response said “we are being infiltrated to the very core of our heritage” and described them as “the enemy in waiting”.
Another post Lee shared in the same month showed an image of a Muslim man being kicked and proclaimed “the only way to save Europe” was “mass deportation”. Lee replied: “Said it for years.”
In June 2024, he replied to a post asking whether Islam should be “made illegal in the UK” and said: “Yes.”
The by-election was called following the resignation of Conservative Lana Hempsall.
Lee was elected with 322, a comfortable margin ahead of the Conservative’s Vincent Tapp, with 208, the Greens’ Peter Carter, with 200, Labour’s Emma Covington, with 186, and Lib Dem’s Philip Matthew with 54 votes.
A spokesman for the council said: “After his election on Thursday, Mr Lee will now go through the introduction and training process of becoming a Councillor.
“Part of that process will include training in his responsibilities as a councillor and as with all councillors he will be expected to abide by Broadland District Council code of conduct.”
FOREIGN SECRETARY David Lammy has described the India-Pakistan ceasefire as “fragile” as he travelled to Islamabad last Friday (16) for a quick visit following the recent conflict in the region.
Lammy met Pakistan’s senior cabinet ministers, including prime minister Shehbaz Sharif, foreign minister Ishaq Dar and interior minister, Syed Mohsin Raza Naqvi.
“It’s important the ceasefire holds, and I describe it as fragile, which is why I’m here,” Lammy told journalists on a call last Friday.
It was the first visit by a UK foreign secretary to Pakistan in the past four years.
Lammy also met consular staff who helped families as tensions escalated between India and Pakistan following a terrorist attack in Pahalgam last month.
India launched strikes against what it said were “terrorist camps” in Pakistan on May 7. Four days of intense tit-for-tat drone, missile and artillery exchanges with Islamabad followed. More than 70 people, including dozens of civilians, died on both sides.
New Delhi and Islamabad later agreed to a ceasefire after world leaders, including from the US and UK, said they spoke to the leadership of both south Asian countries.
“Both countries are long-standing friends of the UK,” Lammy said, adding, “I’ve been in close contact with my counterparts to caution against further escalation and push for a ceasefire.
“I’ve been in regular contact with counterparts in the United States, in Saudi Arabia, in UAE, in the European Union, to discuss how best the UK can work with India and Pakistan to avoid further conflict.
“But reaching a ceasefire is the important thing. And at the heart of sustaining the ceasefire is Pakistan and India having good relations themselves.”
He added, “I want to put on record how impressive I found the statesmanship, both of Pakistan and India, in de-escalating tensions and agreeing to a ceasefire.”
With Syed Mohsin Raza Naqvi
The foreign secretary condemned the terrorist attack in Indian Kashmir when tourists were targeted and shot dead.
He said, “I’ve been absolutely clear that the terrorist attack in Indian-administered Kashmir was horrific, and our thoughts are with those affected, their loved ones, and of course, the people of India.
“The UK government has always been clear in condemning terrorism of all forms, in no uncertain terms.
“And I called (India’s foreign) minister S Jaishankar to offer my condolences.
“In Pakistan, I have been discussing the issue of terrorism and how we deal with terrorism here in Pakistan. Of course, Pakistan, too, has been subject to horrendous terrorism in the recent past.
“The immediacy has been to get to a ceasefire and to see the de-escalation, and to build a horizon where there is confidence, where there is dialogue.
“But, absolutely, we have to bear down on the terrorist threat that exists and the militancy that goes alongside it.”
According to the Foreign, Commonwealth and Development Office (FCDO), in his meetings with senior counterparts, including the prime minister, Lammy highlighted the “immeasurable contribution” people of Pakistani descent have made to British life.
“We are friends with both countries. We have deep relations with both sides,” Lammy said.
In response to a question about India providing evidence of Pakistan’s involvement in the Pahalgam attack, the foreign secretary said, “I wouldn’t expect India to share their matters of national security with me, necessarily.
“What we’re here to do is to ensure and support friends, to maintain an enduring ceasefire. That’s the thrust of my conversations here in Pakistan, while recognising that terrorism does have to be dealt with, and there are concerns that there are groups here engaged in causing harm.”
According to the foreign secretary, he discussed a visit with Pakistan’s foreign minister. However, “it’s unfortunate that I’ve come in the shadow of conflict, although I’m pleased that we now have this fragile ceasefire in place”.
Lammy also met Dar and Raza Naqvi during his visit , and discussed “important links in the friendship between our countries, issues of trade, cooperation, culture, exchange, the support we give Pakistan on the climate crisis and development”.
Previously, rising tensions in the subcontinent (including the most recent one) led to protests and demonstrations in the UK, with migrants of both Indian and Pakistani origin having settled in many cities and towns across the country.
Leicester witnessed scenes of violence a few years ago, but Lammy said this time communities acted responsibly.
He told Eastern Eye, “This has been an unsettling period for communities up and down the country – we’ve got well over three million people who have their origins from India and Pakistan.
Meeting consular staff at the British High Commission in Islamabad last Friday (16)
“We had oral questions in the House on Tuesday (13), and MPs took the opportunity to raise these issues. I know local authorities have also been engaged in communities broadly across the country.
“Of course, there has been anxiety and concern, but we do have communities that live side by side. Even though the images we’ve seen coming out of India and Pakistan have been deeply troubling, communities have acted responsibly and have actually been more focused on loved ones back in those countries than in disharmony within our own.”
He described how consular staff provided crucial support and advice to British citizens in Pakistan during the peak of recent tensions. “Between them, they’ve taken over 2,000 calls from people who were understandably very worried, particularly last weekend,” Lammy said.
He explained that they worked with airlines once Pakistan lifted its airspace restrictions, and helped people get emergency travel documents. “They also told me about how they helped people find access to pharmacies where they were running out of critical medicines because the airspace was closed,” Lammy said.
The FCDO said the foreign secretary has also been in “frequent contact with the government of India, having engaged with his counterpart last Thursday (15), and will look to travel to New Delhi soon to build on the strength of the UK-India relationship”.
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Anti-government protesters display Bangladesh’s national flag at Sheikh Hasina’s palace in Dhaka. (Photo: Getty Images)
TWO documentaries on the July 2024 pro-democracy protests in Bangladesh were screened at the House of Commons on 20 May. The event was hosted by Apsana Begum MP, Chair of the All-Party Parliamentary Group for Bangladesh, at Portcullis House.
The screening featured the international premiere of Deepak Kumar Goswami Speaking, a 21-minute film narrated by a member of Bangladesh’s Hindu minority. It covers the student-led protests and subsequent state crackdown, also examining global financial systems linked to authoritarian regimes.
“This story is not just about one country. It’s about the global systems that allow authoritarian regimes to suppress dissent, launder wealth, and manipulate international opinion — and what happens when those systems begin to unravel,” said director Deepak Kumar Goswami.
An excerpt from July Women was also shown, presenting first-hand testimonies from two women involved in the protests.
The panel discussion, chaired by Apsana Begum MP, included photographer Shahidul Alam, writer Farrukh Dhondy, protest participant Nowshin Noor, and anthropologist Professor Nayanika Mookherjee.
The event follows a UN OHCHR report that found credible evidence of extrajudicial killings, arbitrary arrests, and torture during the 2024 protests under the former Awami League government.
“These films are more than documentation. By giving these voices a platform, we reaffirm the need for a worldwide commitment to human rights, democracy, and justice globally. The world must stand with the people of Bangladesh as they navigate the path to accountability and true democratic reform,” said Apsana Begum MP.