The Enforcement Directorate (ED) on Thursday said it has sent a request for attachment of fugitive diamantaire Nirav Modi’s Hong Kong assets worth Rs 255 crore in the multi-crore Punjab National Bank (PNB) loan default case…reports Asian Lite News
The financial probe agency sought attachment of the assets by Hong Kong authorities under the Prevention of Money Laundering Act by sending a provisional attachment order in the form of Letters Rogatory. The ED said it has till date attached properties worth Rs 4,744 crore in connection with the case in India and abroad.
The ED said the valuables were exported vide 26 shipments by Dubai-based companies of Nirav Modi to the Hong Kong-based companies controlled by him after the registration of a case against him in India.
The agency said it gathered information that certain valuables pertaining to Nirav Modi controlled companies are lying in the vaults of a Hong Kong-based Logistics Company.
“Further details like value, consignee, shipper and ownership of these shipments were obtained through investigation and after gathering the evidences of ownership and value of the goods, worth Rs 255 crore attached,” said the ED.
Earlier in October, the ED had attached assets in India and sought seizure abroad of properties worth Rs 218 crore belonging to Nirav Modi and his maternal uncle Mehul Choksi. The two had fled the country before the scam broke.
They are accused of defrauding state-run PNB of Rs 13,500 crore in connivance with certain bank officials by fraudulently getting the Letters of Undertaking and Letters of Credit issued without following prescribed procedure.
Nirav Modi and Choksi of Gitanjali Group are under probe by both the Central Bureau of Investigation and the ED. The ED filed money laundering investigation against Nirav Modi and others on February 15 on the basis of an FIR registered by the CBI.
The ED had on May 24 and May 26 filed charge sheets against the two.
Non-bailable warrants have also been issued against them.
The Interpol had issued a Red Corner Notice (RCN) against Nirav Modi, his brother Neeshal and sister Purvi — both Belgian citizens — as well as Mihir Bhansali and Aditya Nanvati, close associates of Modi.
However, an RCN request against Choksi, who acquired Antiguan citizenship earlier in 2018, is pending with the Interpol.