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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Bidar: Dalits attacked by upper-caste individuals during festival, case registered against over 70
Bidar: In Chalakapur village of Bhalki taluk, Dalits were allegedly attacked by upper-caste individuals during a Hanuman festival procession, leading to a major incident.
The attack occurred on November 1 after a verbal dispute broke out between Dalits and upper-caste individuals during the procession. Dalit young men have accused upper-caste men of entering their homes and assaulting them. Several Dalit young men were injured in the incident.
A complaint has been lodged at the Katak Chincholi police station, and a case has been registered against more than 70 people.
