Home News Reports Enforcement Directorate attaches Nirav Modi's foreign assets worth 637 crores

Enforcement Directorate attaches Nirav Modi’s foreign assets worth 637 crores

In a massive crackdown, the Enforcement Directorate has attached multiple overseas assets of Nirav Modi. According to reports, real estate properties in New York City and London have been attached and jewellery worth Rs 22.69 crores has been brought back to India from Hong Kong. The ED has also reportedly seized foreign bank accounts of the absconding Diamond tycoon. The total worth of the immovable assets, jewellery and bank accounts are reported to be around Rs 637 crores.

 

- Ad - - article resumes -

According to a report in the Republic world, the London apartment where Nirav Modi was traced to by their reporter a few weeks earlier has also been seized by the ED. According to the report, diamond jewellery with a declared value of Rs 85 crores was taken from India after the CBI began an investigation in the PNB scam. The jewellery had been kept in the vault of a private company on Nirav Modi’s behalf. After contacting the London headquarters of the company and extensive paperwork, the ED has finally managed to bring back the jewellery to India in 23 different shipments.

A flat in south Mumbai belonging to Nirav Modi’s sister Purvi has also been attached. The ED has reportedly attached an account in Singapore belonging to Purvi Modi worth Rs 44 crores. 5 other bank accounts belonging to Nirav Modi with an approximate total value of Rs 278 crores have been attached too.

Earlier, it was reported that just before the PNB scam was brought to light, Nirav Modi had transferred the ownership of his property at Essex House, 160 central par south to the Ithaca Trust, a trust that has Nirav Modi, his wife and children as beneficiaries. An inquiry ordered by a court in New York after three American companies owned by Nirav Modi filed for bankruptcy had found that in September 2017, the Ithaca Trust had bought another property at Ritz Carlton, 50, central park south for approximately by paying USD 25 million in cash. The authorities in the USA had suspected that the money for the purchase was money laundered from the PNB scam. Both the properties have been reportedly attached by the ED.

It is notable here that back in February, the ED had approached a special PMLA court for permission to attach Nirav Modi’s overseas properties under section 5 of the PMLA in USA, UK, Singapore, Hong Kong, South Africa and UAE. On February 26, the Ministry of Corporate Affairs had filed a petition in the USA court against the bankruptcy proceedings filed by 3 American firms controlled by Nirav Modi. In July, the court in New York City had ruled for PNB to have a claim on the assets of Nirav Modi in their country.

The ED and CBI have been in a relentless pursuit of Nirav Modi and his uncle Mehul Choksi after the 13,000 crore PNB scam was unearthed. Interpol has issued red corner notices for Nirav Modi, Mehul Choksi, Purvi Modi and Nishal Modi, Nirav’s sister and brother respectively.

In India too, the ED has already attached several of Nirav Modi’s properties and bank accounts worth thousands of crores.

 

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

As Barkha had predicted, the Sibals also blamed the newly-elected Narendra Modi government for the advertisers to back off. Lack of advertising revenues led to deepening of their financial troubles, they claim. 

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

Proud to be a brand - Made in India?
Now, Advertise on Opindia

Interview: Former RAW officer makes further shocking revelations about Hamid Ansari after alleging that he endangered lives of RAW officers in Iran

In this exclusive interview, Former RAW (Research and Analysis Wing) officer NK Sood makes further revelations about his time in Iran, Hamid Ansari and the vilified scientist Nambi Narayanan

Kapil Sibal claims Barkha Dutt was sacked before her tweets, won’t be paid anymore, Barkha says Sibal is lying

As Barkha had predicted, the Sibals also blamed the newly-elected Narendra Modi government for the advertisers to back off. Lack of advertising revenues led to deepening of their financial troubles, they claim. 
Tiranga TV boots its employees: Here is why they don't deserve any sympathy

I am a journalist and here is why I have absolutely no sympathy for the ones who joined Tiranga TV

News emerged last night that bouncers had been sent to the offices of Tiranga TV as the employees were holding a silent protest in the premises.

Prime Minister Modi, Hindus are under siege, and now is the right time to speak up

PM Modi will still win elections due to sheer inertia and the pathetic state of the country's opposition but the faith that he commands will take a hit and even if it's among a small section of the support base, it would be a travesty
Supreme court judgements - regional languages

Here are 7 bizarre judgments by the Indian Judiciary that highlight the need for urgent reforms

It's not the first time that the rather bizarre tendencies of the Indian Judiciary have been on display. In this article, we revisit some of them.

Conversion at Karnataka High Court? Islamic proselytising organisation distributed Quran among judges and advocates

Salaam Centre engages in 'Dawah' or the Islamic practice of converting non-Muslims to Muslim.
Image Source: Newstate

Campaign to raise funds for Richa Bharti, who was ordered to distribute Quran by Ranchi court, surpasses target within hours

A 19-year old college student, Richa Bharti was ordered to distribute 5 copies of Quran as a condition of bail by the Ranchi court

Aspiring model Khushi Parihar murdered over ‘friendship with other men’, live-in partner Ashraf Sheikh arrested

Aspiring model Khushi Parihar was found murdered with her head and face smashed on Saturday morning at Chatarpur farms, around 50 KMs away from the Nagpur city, her live-in partner Ashraf Sheikh has been arrested

Jharkhand: Hindu organisations allege bias as girl is arrested for Facebook post on Tabrez Ansari death based on FIR by Islamia committee

Acting on a complaint by the Anjuman Islamia Committee in Pithoria district, Ranchi, over a Facebook post on the Tabrez Ansari death, the Jharkhand police have today arrested a girl named Richa Bharti.
Kapil Sibal backed Tiranga TV senior producer accused of sexual harassment

Tiranga TV in yet another controversy: Girl accuses senior producer of sexual harassment, makes lewd chats public

A girl has accused the senior producer of Kapil Sibal backed Tiranga TV of sexual harassment. Himanshi Gupta took to Twitter to make lewd WhatsApp chats public.
Subscribe to Day's Top Stories
- Advertisment -

Latest articles

Connect with us

173,547FansLike
158,572FollowersFollow
74,790SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post