Fresh seizure of Nirav Modi's jewelry, watches worth Rs. 26cr
A fresh seizure of antique jewelry, costly watches, and paintings worth Rs. 26cr has been made by the ED from the Mumbai apartment of Nirav Modi in connection with the over Rs. 12,000cr PNB fraud case. The ED along with CBI launched fresh searches on March 22 at Modi's residential flat in Worli which resulted in the recovery of fresh valuables. Here's more.
Jewelry, expensive watches, costly paintings seized
Antique jewelry worth Rs. 15 crore, costly watches valued at Rs. 1.4 crore, and paintings of acclaimed artists like Amrita Sher-Gil, MF Hussain, and KK Hebbar valued at Rs. 10 crore have been seized over the last three days under the Prevention of Money Laundering Act. A lone diamond ring in this cache is valued at Rs. 10 crore.
ED registers money laundering case against jeweler Nirav Modi
The CBI has filed two money-laundering FIRs against Nirav Modi and his uncle, Mehul Choksi to probe the alleged over Rs. 12,000cr fraud in PNB. The ED has also notified the Interpol for a global arrest warrant against the two as they have left India early this year. A Mumbai special court issued non-bailable warrants against them on the request of the ED.
The total seizure by investigating agencies until now
The total seizure and the attachment of diamond, gold, precious and semi-precious stones and other movable and immovable assets in the PNB scam case stand at Rs. 7,664 crore.
