15
Thursday
November 2018
6:31 PM IST
News Headlines
Jailed Om Prakash Chautala Expels Older Son For "Anti-Party Activities"        ISRO Launches Communication Satellite, Has 'Geo-Eye' To Monitor India        US Vice President Mike Pence takes Myanmar’s Aung San Suu Kyi to task over treatment of Rohingya        Sri Lankan Parliament passes no-trust vote against Rajapaksa        Mitchell Starc released from IPL contract ahead of Ashes, WC        World Championships: Older, wiser, stronger Mary Kom attempts to win 6th global title        India to host Italy on grass in Kolkata        It won't be easy for Mary Kom, says High Performance Director Nieva        Sensex rebounds 332 pts on easing crude, rupee gains        Govt mulls second round of 2,500 MW medium-term PPA auction        UK says Brexit deal 'almost within touching distance'        Trump criticises Macron again over European defence remarks        Infiltration bid foiled by Army in J&K, two terrorists killed        Delhi's pollution remains 'severe' as light showers further deteriorates air quality: authorities        Flipkart Group CEO Binny Bansal quits over 'serious personal misconduct' charges        Preparing for Australia tour by watching videos: Shami        India invites Swedish companies to explore investment opportunities        Govt cancels ED officer Rajeshwar Singh's leave        175 dead, over 10,000 affected by Nigeria cholera outbreak        Lankan parties move SC against Parliament dissolution by Prez Sirisena        
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National News
PNB Scam: ED seizes more assets of Modi, Choksi
 
(Mumbai, Oct 18, 2018): The Enforcement Directorate (ED) on Wednesday further seized and attached various immovable properties and valuables (Cut and Polished Diamonds) worth Rs 218.46 crore in connection with the Punjab National Bank (PNB) fraud case under Section 5 of the Prevention of Money Laundering Act (PMLA), 2002.

These properties belong to fugitive diamantaire Nirav Modi, his uncle Mehul Choksi, his close aid Mihir Bhansali, his family members and A. P. Gems and Jewellery Park, Hyderabad, read a statement.

The ED has already filed a prosecution complaint under Section 45 of PMLA, 2002 against Nirav Modi, Purvi Modi, Maiank Mehta, Neeshal Modi, Nehal Modi, Deepak Modi and 18 other accused for commission of offence of money laundering, defined under Section 3 and punishable under Section 4 of the Prevention of Money Laundering Act, 2002.

The other accused include the three firms of Nirav Modi (Solar Exports, Stellar Diamonds and Diamonds R Us) which had fraudulently obtained letters of undertaking issued by the Punjab National Bank, Brady House branch, Mumbai and his Fire star group of companies.

Among the property seized and attachment include a flat abroad worth Rs 51 crore (approximately), a constructed building having area of 2,10,000 sq feet on 2.05 acre land situated at Shaikpet Village, Banjara Hills, Hyderabad, one flat in Trump Tower in Mumbai to the tune of Rs 1.70 crore and one villa abroad having value of Rs 27 crore.

On specific intelligence, diamonds having a market value of Rs 18.76 crore belonging to Firestar Group have also been seized, the statement added.

Similarly, the ED had filed a prosecution complaint against Gitanjali Gems owner Mehul Choksi in connection with the Punjab National Bank fraud.

The total asset value of attachment and seizures in the PNB case is Rs 4,488 crore.


Jailed Om Prakash Chautala Expels Older Son For "Anti-Party Activities"
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