Properties of Nirav Modi Worth Over Rs 329 Crore Attached under Fugitive Economic Offenders Act
The Enforcement Directorate on Wednesday stated it has hooked up homes of diamond service provider Nirav Modi value Rs 329.66 crore, which now stand confiscated to the central govt beneath the Fugitive Financial Offenders Act 2018 (FEOA).
The businessman and his uncle Mehul Choksi, amongst others, are being probed by means of the ED on cash laundering fees in reference to $2 billion alleged financial institution fraud at a PNB department in Mumbai.
“The confiscated homes are within the type of 4 residences on the iconic development Samudra Mahal in Worli, Mumbai, one beach farmhouse and land in Alibaug, a wind mill in Jaisalmer, a flat in London and home residences in UAE, stocks and financial institution deposits,” stated the central probe company in a commentary.
A different courtroom in Mumbai had on June eight accepted the ED to confiscate the belongings.
Modi used to be declared a fugitive financial offenders by means of the similar courtroom on December five remaining 12 months.
“The ED has hooked up the homes value Rs 329.66 crore beneath the FEO Act, 2018, which now stands confiscated to central govt,” it stated.
The company until now has hooked up belongings value Rs 2,348 crore of Modi beneath the Prevention of Cash Laundering Act (PMLA).
The 49-year-old is recently lodged in a UK prison after being arrested in London in March remaining 12 months and is combating extradition to India.