Enforcement Directorate Freezes Deposits, Shares Worth Rs. 44 Crore Of Nirav Modi Group

Date:

A huge collection of imported watches, 176 steel almirahs, 158 boxes have been seized.

ED officials said they have put freeze orders on bank accounts containing Rs. 30 crore and shares worth Rs. 13.86 crore of the group under the Prevention of Money Laundering Act (PMLA)

MUMBAI/NEW DELHI (PTI) — The Enforcement Directorate today said it has frozen bank deposits and shares worth about Rs. 44 crore of the Nirav Modi group, and seized a huge collection of imported watches from locations linked to the billionaire diamond manufacturer.

Officials said they have put freeze orders on bank accounts containing Rs. 30 crore and shares worth Rs. 13.86 crore of the group under the Prevention of Money Laundering Act (PMLA).

A huge collection of imported watches, 176 steel almirahs, 158 boxes and 60 other containers have been seized during ED searches at multiple locations linked to the billionaire diamond jewellery designer over last week, they said.

On Thursday, the agency seized deposits, shares and luxury cars worth over Rs. 100 crore of the businessman and his group.

Modi, his uncle and Gitanjali Gems promoter Mehul Choksi and others are being investigated by the ED and other probe agencies after it recently came to light, following a complaint by the PNB, that they allegedly cheated the nationalised bank to the tune of Rs. 11,400 crore, with the purported involvement of a few employees of the bank.
The CBI and the ED have registered two FIRs each to probe the case. Both Modi and Choski are said to have left the country before criminal cases were lodged against them.

theclarionindia
theclarionindiahttps://clarionindia.net
Clarion India - News, Views and Insights about Indian Muslims, Dalits, Minorities, Women and Other Marginalised and Dispossessed Communities.

Share post:

Popular

More like this
Related

Haryana BJP Chief, Singer Charged For Gang Rape In Himachal’s Kasauli

The woman said the two men made videos of...

Blinken Proposes UN Role in Gaza, asks Israel to Accept Palestinian State

WASHINGTON --- US Secretary of State Antony Blinken on...

Tension near Coimbatore BJP Office after Cadres of TN Dalit Party Protest with Beef

CHENNAI - Tension erupted near the BJP office in...

Delhi HC Reserves Decision on Tahir Hussain’s Plea for Interim Bail for Elections

NEW DELHI - The Delhi High Court on Tuesday...