ED attaches properties of Nirav Modi worth over Rs 329 cr under Fugitive Economic Offenders law

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National News

Jul 08, 2020

6:19PM

ED attaches properties of Nirav Modi worth over Rs 329 cr under Fugitive Economic Offenders law

Tweeted By@AIR

The Enforcement Directorate (ED) today attached properties worth over 329 crore rupees of fugitive diamond merchant Nirav Modi under the Fugitive Economic Offenders law.

The businessman and his uncle Mehul Choksi are being probed by the agency on money laundering charges in connection with Punjab National Bank (PNB) bank fraud case.

These confiscated properties are in the form of four flats at the iconic building Samudra Mahal in Worli Mumbai, one Seaside Farm House and land in Alibaug, Wind Mill in Jaisalmer, flat in London and Residential Flats in UAE. It also includes shares and bank deposits.

Nirav Modi is presently lodged in a UK jail after being arrested in London in March last year and is currently fighting extradition to India.

In May, the UK court hearing the extradition case of the fugitive jeweller, who is wanted in India on charges of fraud and money laundering, adjourned the trial to be resumed from September this year.