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).
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.
