ED attaches gems, bank deposits worth over Rs 253 cr of Nirav Modi group in Hong Kong

Nirav Modi. File Photo

The Enforcement Directorate Friday said it has attached gems, jewellery and bank deposits worth Rs 253.62 crore of companies linked to fugitive diamond merchant Nirav Modi as part of a money-laundering probe.

All these moveable assets are in Hong Kong, the agency said in a statement.

Also Read: Nirav Modi's sister seeks ED intervention in bankruptcy proceedings against him in US

Some assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelleries lying in private vaults and bank balances in accounts maintained there and these have been provisionally attached under sections of the Prevention of Money Laundering Act (PMLA), it said.

Nirav Modi, 50, is presently lodged in a UK jail and has lost his extradition plea to India in connection with the USD 2-billion PNB fraud case that is also being investigated by the CBI.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.