The Enforcement Directorate Monday initiated a serious action and said it has seized resources worth Rs 637 crore of absconded businessmen Nirav Modi and his family in India and four different nations regarding the USD 2 billion fraud in the Punjab National Bank. The ED said the properties, diamonds, flats, and bank balances are in India, UK and New York among others. The assets, which were joined as a major aspect of five separate requests issued by the central probe agency under the Prevention of Money Laundering Act (PMLA), included properties in London and New York, bank adjusts in Singapore and different nations, a level in Mumbai and diamond studded adornments that were transported to India from Singapore.
A diamond stone worth Rs 22.69 crore was also seized by the investigative office in the wake of getting them to India from Hong Kong in 23 shipments. The ED said that bank balance of Rs 44 crore, kept in a record in Singapore, for the sake of a British Virgin Island-based organization has additionally been connected. A Rs 19.5 crore-worth level in a minor territory of south Mumbai, claimed by Purvi Modi, was likewise appended as a major aspect of this request.
Both Modi and his uncle Mehul Choksi, a co-denounced for the case, left India in the primary seven day stretch of January. While Nirav Modi is in the UK and has connected for shelter in June, Choksi has gained the citizenship of Antigua and Barbuda. The both are accused in the case where they allegedly duped and defrauded the Punjab National Bank for an amount of 13,000 crores.