Officers said these include four immovable properties (three in Mumbai and one in Surat), 106 bank accounts, 11 high-end cars and shares
Nirav Modi
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The Enforcement Directorate (ED) yesterday attached properties worth over Rs 171 crore belonging to PNB scam accused Nirav Modi. Officers said these include four immovable properties (three in Mumbai and one in Surat), 106 bank accounts, 11 high-end cars and shares.
The ED found that the money trail arrived at during the course of investigation pointed to several properties, including four commercial premises in Mumbai and Surat valued at Rs 72.87 crore, 106 bank accounts having a balance of Rs 55.12 crore, 15 demat accounts of Rs 35.86 crore and 11 cars valued at Rs 4.01 crore, all totalling Rs 171.26 crore, officers said.
Earlier, ED had provisionally attached 21 immovable properties belonging to Nirav Modi, and companies controlled by him, on February 24, valued at Rs 523.72 crore. These were six residential flats and 10 office premises in Mumbai, two residential flats in Pune, one farmhouse in Alibaug, one solar power plant, and a 135-acre plot in Karjat.
The ED case
The ED has registered a case under the Prevention of Money Laundering Act against Nirav Modi, his uncle Mehul Choksi and others in the Punjab National Bank (PNB) scam based on the FIR filed by the CBI. So far, the ED has conducted 251 searches all over the country during the course of its investigation.
The CBI cases
The CBI has registered two separate offences against Nirav Modi, Mehul Choksi and others in the scam, and filed charge sheets in both. The CBI probe has revealed that from 2011 to 2017 accused PNB officials along with others fraudulently issued a large number of LoUs to overseas banks for obtaining buyer's credit in favour of some of the jeweller's firms.
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