PNB fraud: ED attaches Nirav Modi's properties worth Rs 171 cr
New Delhi, May 21: The Enforcement Directorate (ED) on Monday said that it has attached more properties of the absconding diamantaire Nirav Modi worth Rs 171 crore as part of its probe in the multi-crore Punjab National Bank (PNB) fraud.
"During further investigation, more properties and bank accounts beneficially owned by Nirav Modi were unearthed.
"And based on the bank statements, property documents and statements recorded of the concerned persons, under sections of the Prevention of Money Laundering Act (PMLA), 2002 and the money trail derived during the course of investigation properties worth Rs 171. 26 crore in the form of movable and immovable properties has been provisionally attached," an ED official said here.
The official said that the attached properties includes four commercial premises in Mumbai and Surat (with present market value worth Rs 72.87 crore), 106 bank accounts (with account balance of Rs 55.12 crore), 15 demat accounts (with Rs 35.86 crore) and 11 cars valued at Rs 4.01 crore.
The financial probe agency's action comes after it registered a separate case against the diamond jeweller and his uncle Mehul Choksi of the Gitanjali Group for defrauding the banks to the tune of Rs 14,500 crore.
Till date, the ED has carried out searches at over 251 properties across the country and seized diamond, gold, precious and semi-precious stones, and pearls.
The ED has also attached immovable properties belonging to Nirav Modi Group and Mehul Choksi group to the tune of Rs 7,638 crore.
The fraud was committed during 2011-17 by illegally issuing Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs).
Choksi, Nirav Modi and his family fled in January around a month before the PNB filed first complaint against them about the fraud and they are still at large.
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NIA court declares absconding Delhi blast accused Muzaffar Rather 'proclaimed offender'
Srinagar (PTI): An NIA court here declared Dr Muzaffar Ahmad Rather, an accused in the white collar terror module busted by Srinagar police in October that was behind the November 10 car blast near Delhi's Red Fort, a proclaimed offender under Section 84 of the BNSS.
The proclamation notice, issued by a special judge designated under the NIA Act last week, was pasted on the house of Rather at Qazigund on Saturday, officials said.
The court has directed Rather to be present before it on January 28, 2026, they said.
“Proclamation is hereby made that Dr Muzaffar Ahmad Rather is required to appear before this court on 28.01.2026 at 10 am sharp to answer the complaint,” the court order read.
Rather, whose brother Dr Adeel Ahmad Rather was arrested in Saharanpur in Uttar Pradesh earlier, is believed to be in Afghanistan.
The entire module was busted after Srinagar police began an investigation into the pasting of posters that threatened police and security forces on walls in Bunpora, Nowgam, in mid-October.
The trail led the investigators to the Al Falah University in Faridabad, Haryana, where Dr Muzzafar Ganaie and Dr Shaheen Sayeed were arrested, and 2,900 kg of explosive material was seized in November.
Investigators believe a core trio of doctors -- Dr Ganaie, Dr Umar Nabi (the driver of the explosives-laden car that blew up near the Red Fort, killing 15), and Muzzaffar Rather -- were running the module.
Section 84 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) deals with the procedure for declaring a person a 'proclaimed offender' when he/she absconds to avoid a warrant, requiring public proclamation through local reading, posting on their home/village, affixing to the court, and potential newspaper publication.
