PNB scam accused Nirav Modi's properties worth Rs 330 crore confiscated
New Delhi | Jagran News Desk: The Enforcement Directorate (ED) on Wednesday said that the have confiscated PNB accused fugitive Nirav Modi's properties worth Rs 329.66 crore under the Fugitive Economic Offenders Act, 2018. The properties were confiscated to the central government and included four flats at the iconic building 'Samudra Mahal' in Mumbai's Worli.
"Attached properties of fugitive Nirav Modi totaling to Rs 329.66 crores stand confiscated to the central government under the Fugitive Economic Offenders Act, 2018," the ED said.
The confiscated properties, the ED said, included his four flats in Mumbai's Worli, one seaside famrhouse and land in Alibaug, wind mill in Rajasthan's Jaisalmer and flats in London and UAE, along with the bank deposits.
"The confiscated properties are in form of four flats at the iconic building Samudra Mahal in Worli Mumbai, one seaside farmnhouse and land in Alibaug, wind mill in Jaisalmer, flat in London and residential flats in UAE, shares and bank deposits," the ED said.
Earlier last month, the Enforcement Directorate had brought back over 2,300 kg of polished diamonds and pearls worth Rs 1,350 crore of firms belonging to Nirav Modi and Mehul Choksi from Hong Kong.
Out of the 108 consignments that landed at Mumbai, 32 belong to overseas entities in the UAE and Hong Kong "controlled" by Nirav Modi while the rest are of Mehul Choksi firms, it said in a statement.
Both the businessmen are being probed by the ED under the Prevention of Money Laundering Act (PMLA) in connection with an over USD 2 billion alleged bank fraud at a PNB branch in Mumbai.
Posted By: Shashikant Sharma