The Enforcement Directorate (ED) today said it had issued a provisional attachment order under provisions of the Prevention of Money Laundering Act (PMLA) to seize gems, jewellery and bank deposits worth Rs 253.62 crore of companies linked to fugitive diamond merchant Nirav Modi as part of its probe against him in a bank fraud case. - IANS file photo
New Delhi, July 22
The Enforcement Directorate (ED) today said it had issued a provisional attachment order under provisions of the Prevention of Money Laundering Act (PMLA) to seize gems, jewellery and bank deposits worth Rs 253.62 crore of companies linked to fugitive diamond merchant Nirav Modi as part of its probe against him in a bank fraud case.
The ED said all these moveable assets were in Hong Kong. “Some assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewellery lying in private vaults and bank balances in accounts maintained there and these have been provisionally attached,” the statement read.
Nirav Modi, 50, is presently lodged in a UK jail and has lost his extradition plea to India in connection with the $2-billion PNB fraud case that is also being investigated by the CBI.
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