The Enforcement Directorate (ED) on Tuesday said it has attached properties of absconding diamantaire Nirav Modi and his associate companies to the tune of Rs 147 crore in connection with its ongoing probe into the Punjab National Bank (PNB) fraud case.
The agency in a statement said that the action was taken under sections of the Prevention of Money Laundering Act (PMLA) 2002.
“The ED has provisionally attached movable and immovable properties located in Mumbai and Surat, having market value of Rs 147.72 crore consisting of eight cars, plant and machinery, consignments of jewellery, paintings and immovable property, owned by Nirav Modi and his group companies, namely Firestar Diamond International Private Limited, Firestar International Private Limited, Radheshir Jewelry Company Private Limited and Rhythm House Private Limited,” the statement said.
The ED claimed that during investigation, it was revealed that substantial proceeds of crime obtained fraudulently by the Nirav Modi-owned group of firms Solar Exports, Stellar Diamonds, Diamond RUS from PNB were diverted to the absconding diamantaire, his relatives and entities controlled by him.
The ED had earlier attached properties in India and abroad to the tune of Rs 1,725.36 crore.
Besides the properties, the ED had also attached gold, diamond, bullions, jewellery and other valuables worth Rs 489.75 crore.
Nirav Modi and his uncle Mehul Choksi are under probe by both the Central Bureau of Investigation (CBI) and ED. The ED filed money laundering cases against them and others on February 15 on the basis of an FIR registered by the CBI.
The ED has till date attached properties worth Rs 4,765 crore of Choksi and Nirav Modi.