ED attaches properties worth Rs 523 crore of Nirav Modi in PNB case

     Written by : SMTV24x7 | Sat, Feb 24, 2018, 06:06 PM

ED attaches properties  worth Rs 523 crore of Nirav Modi in PNB case

New Delhi Feb 24: In a Move to the further crackdown in PNB Fraud case the Enforcement Directorate (ED) today attached 21 properties, including a penthouse and a farmhouse, of Nirav Modi and his group worth over Rs 523 crore.

Currently, Nirav Modi and Mehul Choksi are being accused of looting Rs 11400 Cr loans of Punjab National Bank and currently, these people are absconding.The accused have taken loans in foreign countries by using LOUs issued by PNB.

Many agencies are investigating the case and The ED and CBI are continuing the raids and the Agency on Saturday has said that "it has issued a provisional order for attachment of the assets, under the Prevention of Money Laundering Act (PMLA), and seized an Rs 81.16 crore valued penthouse (created by joining three flats) and a flat worth Rs 15.45 crore in the sea-facing Samudra Mahal apartments in the Worli area of Mumbai".

"21 immovable properties of Nirav Modi and companies controlled by him, with a market value of Rs 523.72 crore, have been provisionally attached. These include 6 residential properties, ten office premises, 2 flats in Pune, a solar power plant, a farmhouse in Alibaug and 135 acres of land in Karjat in Ahmednagar district."