Today, the Directorate of Enforcement (ED)provisionally attached movable properties i.e., Gems and Jewelleries and Bank Balances in the case of Nirav Modi group of companies in Hong Kong. The total amount of these seized movable properties amount to Rs 253.62 Cr. The ED carried out this seizing under the anti-money laundering law. The agency informed this today.
They Enforcement Directorate tweeted about this in their official Twitter handle and informed that the total attached/seized assets tally in the case stands at a total amount of Rs 2650.07 Cr.
Nirav Modi was declared a fugitive in the year 2019 along with his uncle Mehul Choksi. Together they were accused of committing a Rs 14,000 Cr scam by obtaining credit facilities fraudulently from the PNB. The Enforcement Directorate has been attaching several of Nirav Modi’s as well as his kin’s properties.
Nirav Modi was arrested in London on March 20, 2019. This happened after The Telegraph reported to sight him in the UK. On the 25th of February 2021, the UK court allowed the Indian government’s request for his extradition to India. But Modi resorted to do his trials in the UK thinking that he wouldn’t receive fair trial in India. Modi has been held in custody in London’s Wandsworth prison since his arrest in 2019.
In the month of June, his extradition plea was heard in the court for the second time and it was rejected again due to objections by his barrister.