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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Fan tries to die by suicide over Nikhil Kumaraswamy's bypoll loss
Bengaluru: Channapatna JD(S) candidate Nikhil Kumaraswamy, who lost the byelection to C.P. Yogeshwar of Congress, on Sunday consoled a fan who reportedly attempted to end his life and requested him not to repeat such acts.
Manjunath, fondly called Abhi, had even penned a letter before taking the dangerous step. Nikhil, who called on Manjunath at the latter’s home in Kudloor in Channapatna, expressed shock and sadness over the incident.
Nikhil Kumaraswamy reassured Manjunath, expressing his support during the difficult time. He told him that he was deeply troubled to learn of this incident and emphasised that he would stand by him. Nikhil also promised to offer assistance in any way he could, including helping him secure employment opportunities in the future, as reported by the Deccan Herald.
He also reminded Manjunath of the importance of his children’s well-being, urging him to focus on their future. “Please, look at the faces of your growing children. Even I have a three-year-old son. The children are young, let us take care of their future also. I will arrange some job opportunities for you. I might not be an MLA but this is a challenge. I will get you employed,” he said.
Nikhil told media persons that he is extremely hurt more by Manjunath’s attempt to die than by his loss in the election. “At 7:30 a.m., we got a message that in Valetoopu, Manjunath had consumed poison yesterday. In Channapatna, our workers and leaders have built this party with zeal. Let the admiration be there in your hearts but if it crosses the line, your families get hurt and we get very pained by it,” he was quoted as saying by the publication.
Speaking of his byelection loss, Nikhil reiterated that the JD(S) had got its traditional votes, but that the votes of a particular community went against the party.
“Deve Gowda gave reservation to a community. We tried our last attempt to take that community into confidence. But they conveyed to us that they do not require us. In future, we will take other communities into confidence,” he remarked in a veiled reference to Muslims.
Nikhil lost the election by a margin of 25,413 votes to Congress candidate C.P. Yogeshwar.
