Thursday, March 28, 2024
HomeNews ReportsNirav Modi crackdown: ED finds imported watches stacked in 176 steel almirahs, freezes more...

Nirav Modi crackdown: ED finds imported watches stacked in 176 steel almirahs, freezes more bank accounts

The Enforcement Directorate today reported that it had freezed Rs 30 crore in bank accounts & shares worth Rs 13.86 crore held in a Nirav Modi Company. This latest move comes on the heels of multiple seizes and raids by the  Enforcement Directorate.

The  Enforcement Directorate also informed that they received a tip-off from a source, which led to an unusual discovery: “huge quantity of imported watches stacked in 176 steel almirahs, 158 corrugated boxes & 60 plastic containers”


The value and the exact number of the watches seized has not been declared yet by the Enforcement Directorate. The watches may have to be examined to determine whether they are genuine watches or cheap fakes. The watches were found in corrugated boxes, pictures of which were uploaded by the Enforcement Directorate:

The above move comes on the back of multiple actions taken by various authorities over the past few days. Yesterday, the Enforcement Directorate had reported that it had seized several premium cars belonging to Nirav Modi and his companies. The cars include a Rolls Royce Ghost, Porsche Panamera, 2 Mercedes Benz, 3 Honda, 1 Toyota Fortuner & an Innova, as per the Enforcement Directorate. It was also declared that shares & mutual funds worth Rs 7.8 Cr of Nirav Modi & Rs 86.72 crore of Mehul Choksi group were frozen by the Enforcement Directorate.

On 16th February, in raids that continued late into the night, the ED seized Rs. 5,100 crores worth of Gold, precious gems and Jewellery. The Enforcement Directorate also tweeted about additional raids being conducted and that diamonds, gold and jewellery worth Rs. 549 crores (book value) have been seized.

Ayodhra Ram Mandir special coverage by OpIndia

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

Related Articles

Trending now

Recently Popular

- Advertisement -

Connect with us

255,564FansLike
665,518FollowersFollow
41,500SubscribersSubscribe