ED confiscates over Rs 329-cr assets of Nirav Modi under fugitive law
PTI, Jul 8, 2020, 5:32 PM IST
New Delhi: The Enforcement Directorate (ED) on Wednesday said it has confiscated assets worth Rs 329.66 crore of diamond merchant Nirav Modi under the fugitive economic offenders law.
The businessman and his uncle Mehul Choksi among others are being probed by the ED on money laundering charges in connection with an over USD 2 billion alleged bank fraud at a PNB branch 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 agency said in a statement.
A special court in Mumbai had on June 8 authorised the ED to confiscate the assets.
Nirav Modi was declared a fugitive economic offenders by the same court on December 5 last year.
“The ED has attached the properties worth Rs. 329.66 crore under the FEO Act, 2018 which now stands confiscated to central government,” it said.
The agency till now has attached assets worth Rs 2,348 crore of Nirav Modi under the Prevention of Money Laundering Act (PMLA).
Nirav Modi (49) is currently lodged in a UK jail after being arrested in London in March, 2019 and is currently fighting extradition to India.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Maharashtra Polls: Eknath Shinde targets Uddhav for `giving up’ Bal Thackeray’s principles for power
CBI forms SIT to probe into Tirupati laddu adulteration allegations
Out on bail, murder accused shoots dead wife, three children in Varanasi
Delhi: Man held for killing brother-in-law for ‘ill-treating’ his sister
Lies have short life, Cong’s ‘fake’ narrative smashed: Fadnavis
MUST WATCH
Latest Additions
Waqf Issue: JPC chair Jagdambika Pal to visit Hubballi, Vijayapura on November 7
Maharashtra Polls: Eknath Shinde targets Uddhav for `giving up’ Bal Thackeray’s principles for power
Shivamogga: Wild elephant dies due to electrocution form farm fence; Landowner detained
Folk singer Sharda Sinha’s condition critical, PM in direct contact with treating doctors
Weight loss could help one manage PCOS symptoms, study suggests
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.