Friday, July 10, 2020
Home News Reports ED to start the process of identifying and seizing Nirav Modi’s overseas assets in...

ED to start the process of identifying and seizing Nirav Modi’s overseas assets in 6 countries

Also Read

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

The Enforcement Directorate was allowed a plea to seize Nirav Modi’s properties located in six different countries on Monday. The ED had approached a special Prevention of Money Laundering Act (PMLA) court to attach properties of the PNB bank Fraud accused spread in six countries. The court has allowed the plea seeking the Letter Rogatory (LRs) to the relevant authorities in six countries to aid the ED to identify and seize the properties.

The six countries are Hong Kong, USA, UK, South Africa, Singapore and UAE. Lawyer Hiten Venegaokar appealed to the PMLA court on behalf of ED. The ED has reasons to believe that certain parts of the proceeds of the PNB Fraud or even property involved in money laundering are located in these six countries.

Special Judge M S Azmi allowed the plea. The ED will also collect documents and other evidence pertaining to the Nirav Modi’s fraud case with this authorisation. The LRs will now be sent to the competent authorities of the countries through the Ministry of External Affairs. By the LRs the ED is also authorised to hold inquiries in the respective countries.

The PNB Fraud came to light two weeks ago when the Punjab National Bank issued a letter highlighting unauthorised LoUs being issued and Nirav Modi and his uncle Mehul Choksi were believed to have cheated the bank of about 1.7 billion US dollars. Earlier today news reports came that stated the total amount might be 1300 crores rupees more than the initial estimates.

The ED has been swift in attaching Nirav Modi’s properties and accounts in this case. Several of his showrooms and offices have been raided in the past two weeks and most of his properties and those belonging to his wife and brother have been attached by the agency. The CBI has also arrested the bank employees involved in the scam and several high officials in Nirav Modi’s companies.

With the court’s authorisation, the ED is now expected to move to the six countries to further seize Nirav Modi’s properties there. Nirav Modi and Mehul Choksi are still absconding. Their passports have been revoked by the Ministry of External Affairs.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Trending now

The Wire accused Yogi Adityanath of being ‘casteist’ for not killing Vikas Dubey hours before the encounter of the gangster

Notorious gangster, Vikas Dubey, who was arrested from Ujjain, Madhya Pradesh was killed in an encounter in the wee hours of the morning on Friday

Vikas Dubey killed in an encounter after he attempts to flee from police custody: Here is what happened

The encounter broke out between Vikas Dubey and the Uttar Pradesh Special Task Force (STF) after the gangster tried to flee upon reaching Kanpur.

Delhi Riots Chargesheets: Before murdering Ratan Lal, the Islamist mob had held 2 other police constables hostage

The chargesheet filed by Special Investigation Team of Delhi Police in the murder of Ratan Lal and deadly attacks by rioters on IPS Amit Sharma and IPS Anuj Kumar mentions at least 17 accused.

The curious case of ‘Drone Boy’ who has made 600 drones using broken mixer grinders and televisions. A fact-check

While 'drone boy' Prathap NM has claimed to have made 600 drones using e-waste, not a single photo or video of them exist

Criminal Vikas Dubey had tortured his school headmaster to death, exhibited criminal behaviour since childhood: Report

Vikas Dubey had tortured his school headmaster Siddheshwar Pandey to death during his childhood

Used cartridges from the rooftop: What was collected from the scene where Ratan Lal was murdered and what it all means

During the anti-Hindu Delhi riots, the brutal murder of Ratan Lal was one of the first acts of violence that shook the nation from the 24th of February to the 26th of February

Recently Popular

Netizens ask Netflix to cancel comedian Kenny Sebastian’s special show after he hurls obscene abuses

Social media users are demanding that Netflix reconsiders special show of Indian comic Kenny Sebastian after he was allegedly found hurling obscene abuses to people on his Instagram page.

The curious case of ‘Drone Boy’ who has made 600 drones using broken mixer grinders and televisions. A fact-check

While 'drone boy' Prathap NM has claimed to have made 600 drones using e-waste, not a single photo or video of them exist

Jyoti Basu is the mass murderer India forgot

Please don’t feel bad about speaking ill of the Late Jyoti Basu. If there is another world, be certain that there are (at least) 28,000 voices from the other side backing you up.

Only Muslims go to heaven, Ravish Kumar-like non-Muslims can only hope for a mild level of hell: Dr Zakir Naik explains

Naik said that virtues like honesty and charity cannot ensure qualifying marks for heaven or Jannah. Only Muslims can go to heaven and non-Muslims will go to hell by default, he says.

After obscene comments, clip of comedian Kenneth Sebastian calling Sanskrit ‘most useless language ever’ goes viral. Watch video

In the video titled "Journey to the centre of my brain", Sebastian is seen thanking God because 'all the people who spoke Sanskrit are dead'.

From Vikas Dubey has reached Nepal to he may be encountered ‘because he knows dirty secrets’: Read how conspiracy theorists spun yarns

As Vikas Dubey was on the run, the journalists kept themselves busy conjuring up various conspiracy theories.

Congress leader Udit Raj’s organisation makes derogatory comments against Brahmins, compares the community to ‘pigs’

Dalit organsation All India Parisangh run by Congress leader Udit Raj insults Brahmins by comparing with pigs

Nepal: Lawmaker removed from House of Representatives for pro-India stand, blamed China for the new map

Sarita Giri of the Samajwadi Party Nepal has been removed from her position of a member of the House of Representatives.

Nizamuddin Markaz: Delhi Court sets 60 Tablighi Jamaat members from Malaysia free for a ₹7000 fine

60 Malaysian nationals who had attended Nizamuddin Markaz violating visa norms freed by Delhi court on fine of Rs 7000 each

Four policemen injured in the accident, which led to the encounter of Vikas Dubey, brought to the hospital: Watch

The injured policemen have been rushed to Lala Lajpat Rai Hospital in Kanpur, after they suffered some injuries during the encounter of gangster Vikas Dubey.

After notorious gangster Vikas Dubey, another criminal Panna Yadav killed in an encounter after he opened fire

After Vikas Dubey, notorious criminal Panna Yadav gunned down in encounter by Uttar Pradesh police

The Wire accused Yogi Adityanath of being ‘casteist’ for not killing Vikas Dubey hours before the encounter of the gangster

Notorious gangster, Vikas Dubey, who was arrested from Ujjain, Madhya Pradesh was killed in an encounter in the wee hours of the morning on Friday

Nepal irked over reports of KP Oli’s alleged affair with Chinese ambassador, cable operators ban Indian channels

As per reports, the ban is not official and has been brought in by cable operators. Nepal's Nepal’s information minister Yuba Raj Khatiwada, when asked whether the Nepalese government is mulling a ban on Indian channels, had stated that it would be better if Indian media practises self-restraint.

India Today journalist Ashraf Wani peddles fake news claiming Kashmiri woman was killed by Army bullets in Pampore

A lady was caught in the crossfire after some terrorists attacked an Army convoy near a Mosque in Pampore. She was brought to hospital and was discharged soon after first-aid.

Vikas Dubey killed in an encounter after he attempts to flee from police custody: Here is what happened

The encounter broke out between Vikas Dubey and the Uttar Pradesh Special Task Force (STF) after the gangster tried to flee upon reaching Kanpur.

Delhi Riots Chargesheets: Before murdering Ratan Lal, the Islamist mob had held 2 other police constables hostage

The chargesheet filed by Special Investigation Team of Delhi Police in the murder of Ratan Lal and deadly attacks by rioters on IPS Amit Sharma and IPS Anuj Kumar mentions at least 17 accused.

Connect with us

235,293FansLike
402,398FollowersFollow
272,000SubscribersSubscribe