Friday, March 5, 2021
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.

 

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.

 

  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

Related Articles

Trending now

‘Even if life was taken away illegally, courts are helpless’: the Congress toolkit for protecting institutions

Rahul Gandhi had recently said that though the Emergency was wrong, Congress has never tried to capture India's institutional framework.

Badminton coach Mathias Boe is also the coach of Pune 7 Aces, owned by girlfriend Taapsee Pannu and KRI Entertainment, both facing I-T probe

Mathias Boe is the coach of Pune 7 Aces, a franchisee badminton team that participates in the Premier Badminton League

Indian Govt should ask badminton coach and Taapsee Pannu’s boyfriend Mathias Boe to quietly do his job or quit

Mathias Boe had tweeted tagging Minister Kiren Rijiju, asking him to do 'something' about the IT raids on his girlfriend Taapsee Pannu

The world praises India as Made-in-India vaccines arrive to help countries start mass-vaccination against Covid

Expressing gratitude, the CARICOM described India as caring country and an example of international cooperation.

India cautions UNSC over weapons of mass destruction falling into the hands of terrorists in conflict regions like Syria

India called for an objective investigation into the alleged use of chemical weapons in Syria and a peaceful resolution of the Syrian conflict.

Anurag Kashyap’s accounts were seized for tax evasion under UPA rule too. Brave dissenter? Netizens ask

As per reports, the I-T raids have unearthed tax discrepancies to the tunes of several hundred crores.

Recently Popular

“Are you so creatively bankrupt”? Director of ‘Yeh Ballet’ slams Deepika Padukone starrer new Levi’s ad for plagiarising design ideas

Sooni Taraporevala said that the 'copycat culture' in India needs to be called out and cancelled after the set used in new Deepika Padukone starrer Levi's ad was plagiarised by the makers.

Crores of undisclosed income, unexplained cash receipts and more: IT Dept discovery so far in raids against Anurag Kashyap, Taapsee Pannu

Income Tax department (IT dept) conducted raid on properties linked to filmmaker Anurag Kashyap, actress Taapsee Pannu and others

Her husband used to talk vulgar to girlfriend in front of her: Here is what the lawyer of Ayesha, who jumped into Sabarmati river,...

Ayesha, who committed suicide by jumping into the Sabarmati River in Gujarat on March 1, had a disquiet marital life

Kiren Rijiju gives befitting reply to ‘befitting reply queen’ Taapsee Pannu’s boyfriend, who wanted the law to bend to his whims

Matthias Boe, boyfriend of actress Taapsee Pannu, had appealed to Kiren Rijiju to 'do something' to help the actress.

Indian Govt should ask badminton coach and Taapsee Pannu’s boyfriend Mathias Boe to quietly do his job or quit

Mathias Boe had tweeted tagging Minister Kiren Rijiju, asking him to do 'something' about the IT raids on his girlfriend Taapsee Pannu

‘Isko maine kaat dala’ – Father beheads daughter after finding her in compromising position, takes the head to police station

After beheading the 17-year-old daughter, Sarvesh Kumar took the head to Majhila police and confessed to the crime
- Advertisement -

 

Connect with us

253,210FansLike
522,079FollowersFollow
23,800SubscribersSubscribe