PNB scam: ED attaches Nirav Modi’s assets worth Rs 637 crore, spanning over five countries

Nirav Modi

New Delhi, Oct1 : The Enforcement Directorate on Monday attached properties,five overseas bank accounts of Nirav Modi having balance of total Rs 278 crore and his family members worth Rs 637 crore in connection with the Rs 13,500 crore Punjab National Bank (PNB) fraud case.

Diamond studded jewellery worth Rs 22.69 Cr has brought back to India from Hong Kong. A flat in South Mumbai worth Rs 19.5 Crore has also been attached.

“ED attaches Rs 637 crore worth of assets of Nirav Modi and family in India and four other countries in PNB fraud case”

Two immovable properties having total value of USD 29.99 Million (Rs 216 Crore Approx) and beneficially owned by Nirav Modi in New York, have also been attached by Enforcement Directorate under section 5 of Prevention of Money laundering Act.

Nirav Modi left India along with his family in the first week of January, weeks before the scam was reported to the CBI. His wife Ami, a US citizen, left on January 6 and Choksi on January 4.
Senior Bharatiya Janata Party (BJP) leader Subramanian Swamy had written a letter to Union Finance Minister Arun Jaitley seeking permission to initiate proceedings to prosecute Finance Secretary Hasmukh Adhia. Swamy alleged that Adhia has been involved in several corrupt activities and ‘enabled’ diamond jewellers Nirav Modi and Mehul Choksi flee India. The BJP MP claimed that Adhia is still in touch with fugitive diamantaire Nirav Modi and alleged that he is ‘extending’ him a ‘protective shield’. In his letter, Swamy has urged Jaitley to prosecute Adhia under Section 197 of CrPC and Section 19 Prevention of Corruption Act.

According to a Central Bureau of Investigation (CBI) official, the UK authorities confirmed Nirav Modi’s presence in the country on Sunday through a mail on the basis of the diffusion notice issued against him by the probe agency to the Interpol.

The official also said the CBI sent an extradition request to the Ministry of Home Affairs (MHA) on Monday.

“The Home Ministry has also been requested to move its extradition request to the Ministry of External Affairs and through the MEA to the UK authority.”

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