New Delhi, July 8
The Enforcement Directorate (ED) on Wednesday mentioned it has confiscated belongings price Rs 329.66 crore of diamond service provider Nirav Modi below the fugitive financial offenders legislation.
The businessman and his uncle Mehul Choksi amongst others are being probed by the ED on cash laundering costs in reference to an over USD 2 billion alleged financial institution fraud at a PNB department in Mumbai.
“The confiscated properties are in the form of four flats at the iconic building Samudra Mahal in Worli Mumbai, a sea-side farm house and land in Alibaug, a wind mill in Jaisalmer, a flat in London and residential flats in UAE, shares and bank deposits,” the central probe company mentioned in an announcement.
A particular courtroom in Mumbai had on June Eight authorised the ED to confiscate the belongings.
Nirav Modi was declared a fugitive financial offende by the identical courtroom on December 5 final yr. “The ED has attached the properties worth Rs 329.66 crore under the FEO Act, 2018 which now stands confiscated to central government,” it mentioned.
The company until now has hooked up belongings price Rs 2,348 crore of Nirav Modi below the Prevention of Money Laundering Act (PMLA).
Nirav Modi (49) is at present lodged in a UK jail after being arrested in London in March, 2019 and is at present preventing extradition to India. — PTI