PNB scam: ED seized Nirav Modi’s assets worth Rs 637 crore
Monday - October 1, 2018 2:15 pm ,
Category : INDIA
Nearly property worth Rs 637 crore of Nirav Modi, accused of Punjab National Bank scam and his family has been seized by the Enforcement Directorate (ED). These properties exist in four other countries other than India. According to reports that jewelery, property, flats and bank balance have been seized in other countries including India, Britain and the US. This is a big move for ED on this case, because there have been very few cases in which Indian agencies have seized assets in criminal cases abroad.
Commenting on the action of ED, Union Minister Shiv Pratap Shukla said that we are trying to bring back such accused to India. External Affairs Minister Sushma Swaraj has recently spoken to the President of Nicaragua on the issue of extradition. According to sources, Edi attached Nirv Modi's property worth about Rs 216 crore in the money laundering case in New York, including two flats. ED has attached 5 overseas bank accounts with total balance of 278 crore rupees.
Now the Enforcement Directorate has identified properties worth Rs 4,000 crore worth of Neerav Modi's abroad. In fact, the investigating agency is now seizing properties under the Prevention of Money Laundering Act (PMLA). Even before this, the Central Investigation Agency has confiscated properties in Australia and the United States in other cases of fraud.
Officials said that the investigating agency has so far issued many letters from the local court of Mumbai, and many are being sent to countries like America, Britain, Switzerland, Hong Kong and Singapore. In order to seize immovable properties like houses and villas in these countries of Nirv Modi and his family, He told that a special team of officials was formed to find these properties located abroad. On the basis of their information, the process of seizing nearly two dozen properties of nearly Rs 4,000 crore with the help of related foreign officials is being started. These properties marked in foreign countries are named after Neerav Modi, his family members and in some cases, his bogus or dummy firms.
