ED Seizes Nirav Modi's Properties Worth Rs 637 Crore
Initiating a fresh round of action, the Enforcement Directorate said it has attached assets worth Rs 637 crore of absconding jeweller Nirav Modi and his family in India and four other countries in connection with the USD 2 billion alleged fraud in the PNB.
Initiating a fresh round of action, the Enforcement Directorate said it has attached assets worth Rs 637 crore of absconding jeweller Nirav Modi and his family in India and four other countries in connection with the USD 2 billion alleged fraud in the PNB. (Image: Special Arrangement)
The agency said the properties, jewellery, flats and bank balances are in India, UK and New York among others. (Image: Special Arrangement)
There are very few cases where Indian agencies have attached assets abroad in a criminal probe. (Image: Special Arrangement)
The assets have been attached as part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act (PMLA), it said. (Image: Special Arrangement)
Nirav Modi and his uncle Mehul Choksi are the main accused in the case where it is alleged that the two diamond jewellery businessmen allegedly duped and defrauded the Brady House branch of the Punjab National Bank in Mumbai for an amount of USD 2 billion (about 13,000 crore) in purported connivance with bank officials. (Image: Special Arrangement)
The agency, a senior official said, also got issued an Interpol Red Corner notice (global arrest warrant) against Aditya Nanavati, an accused in the same case, on charges of money laundering. (Image: Special Arrangement)
More trouble mounts for Nirav Modi as Enforcement Directorate (ED) freezes bank accounts with Rs 30 crore balance, shares of Rs 13.86 crore value held in a company of Nirav Modi. (Image: Special Arrangement)
According to the sources, ED also seized 176 steel almirahs and 60 plastic containers containing imported watches. (Image: Special Arrangement)
In the recently conducted raid, ED found 60 plastic containers full of luxurious watches. (Image: Special Arrangement)
Earlier, Enforcement Directorate (ED) seized Nirav Modi’s nine luxurious cars; including Rolls Royce, Porsche, Mercedes and others. Photo of Nirav Modi’s seized watches can be seen above. (Image: Special Arrangement)
