ED attaches Nirav Modi’s assets worth Rs. 637 crore

The Enforcement Directorate today said it has attached assets worth  Rs. 637 crore of absconding jeweller Nirav Modi and his family in connection with the alleged fraud in the Punjab National Bank.

The agency said the properties, jewellery, flats and bank balances are in India, UK and New York among others.

The ED said the assets have been attached as part of five separate orders issued under the Prevention of Money Laundering Act.

Nirav Modi and his uncle Mehul Choksi are the main accused in the PNB fraud case.
It is alleged that the two businessmen duped and defrauded the Brady House branch of the Punjab National Bank in Mumbai for an amount of about 13,000 crore rupees in purported connivance with bank officials.

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