Pragnesh Modhwadia, the suspended owner of Axiom Ince, is expected to challenge the multi-million pound freezing and preservation orders imposed against him by London’s High Court, his lawyer has said.

It comes after Axiom Ince successfully obtained a freezing order for £57,522,510 against Modhwadia, as well as a preservation order for at least £64,584,904.60 allegedly paid away from Axiom’s client account since May 2021, according to a person with knowledge of the action.