New Delhi: The Enforcement Directorate (ED) on Monday attached Rs 637 crore worth of assets of fugitive billionaire jeweller Nirav Modi and family in India and four other countries in PNB fraud case.
Ttwo immovable properties having total value of $29.99 Million (Rs 216 crore approx), beneficially owned by Nirav Modi in New York, have been attached by the ED under Section 5 of the Prevention of Money laundering Act (PMLA).
Other attached assets include 5 overseas bank accounts belonging to Nirav having a total balance of Rs 278 crore and a flat in south Mumbai worth Rs 19.50 crore. Diamond studded jewellery worth Rs 22.69 crore has also been brought back to India from Hong Kong.
There are only very few cases where Indian agencies have attached assets abroad in a criminal probe.
Last month, it came to light that ED had identified Nirav’s foreign assets worth Rs 4,000 crore and the agency had started proceedings to attach these assets considered as “proceeds of crime” in the Rs 13,500 crore PNB scam.