The Enforcement Directorate along with the CBI launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Nirav Modi in Mumbai's Worli area which resulted in the recovery of fresh valuables.
The Enforcement Directorate along with the CBI launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Nirav Modi in Mumbai’s Worli area which resulted in the recovery of fresh valuables. On Saturday morning, ED revealed that it has seized antique jewellery, costly watches and paintings of Amrita Sher-Gil and M F Hussain, among other items from the sea-facing Mumbai apartment of diamantaire Nirav Modi in connection with the over Rs 12,000 crore PNB fraud case.
According to the details provided by ED, here is everything that was recovered:
– The agency said that it has recovered jewellery worth Rs 15 crore. This also included antique jewellery whose value wasn’t disclosed.
– Paintings of Amrita Sher-Gil and M F Hussain were recovered which are reportedly worth Rs 10 crore. The recovery was made over the last three days under the Prevention of Money Laundering Act (PMLA).
– Apart from this, the department also seized costly watches valued at Rs 1.4 crore.
– It also seized a watch which alone costs a whopping Rs 10 crore.
The agency has filed two money laundering FIRs against Nirav Modi and his uncle and Gitanjali Gems promoter Mehul Choksi to probe the alleged over Rs 1,200 crore fraud in the Punjab National Bank (PNB). ED said that it has also notified the Interpol for a global arrest warrant against the two as they have left India early this year and have not appeared before the agency after summonses were issued to them.
Non-bailable warrants were issued against both Nirav Modi and Mehul Choksi by a Mumbai special court on ED’s request.
So far, a total of 251 country-wide searches have been conducted in connection with this case after the criminal probe against the accused in February. The total seizure and attachment of diamond, gold, precious and semi-precious stones and other movable and immovable assets in the case stand at Rs 7,638 crore.
On Friday, the government had said that ED is also analysing 120 shell companies in connection with the Punjab National Bank fraud. “As per inputs received from the Directorate of Enforcement, analysis of 120 shell companies in India in the case of PNB fraud is being done,” Minister of State for Finance Shiv Pratap Shukla had said in a written reply to the Lok Sabha.