The global crackdown in Mehul Choksi and Nirav Modi’s case continues. After freezing accounts in Singapore and Switzerland, the Enforcement Directorate (ED) has now attached properties of Mehul Choksi worth over Rs 24 crore in Dubai in connection with the Rs 13,000 crore Punjab National Bank Scam.
According to ED, they have attached immovable properties, valuables, vehicle, bank account having total value of Rs 24.77 crore of accused Mehul Choksi under Prevention of Money Laundering Act (PMLA) in Punjab National Bank Fraud Case.
The attachment includes 3 commercial properties in Dubai, valuables, one Mercedes Benz E280 and Fixed Deposit Account controlled by accused Mehul Choksi. It is important to point out that ED has been regularly communicating with countries where Nirav Modi and his uncle Mehul Choksi’s business was still in active. ED has also received responses from various countries regarding Nirav Modi and Mehul Choksi’s foreign properties.
In Mehul Choksi’s case, ED has attached properties worth Rs. 2534.7 crore including the recent attachment of Rs 24.77 crore. Mehul Choksi along with other accused have committed the offence of cheating Punjab National Bank in connivance with certain bank officials by fraudulently getting the Letter Of Undertaking and Foreign Letters of Credit issued causing wrongful loss to the bank.
Meanwhile, on July 2, Singapore authorities cracked the whip on the fugitive diamantaire as the Singapore High Court has ordered to freeze assets of Nirav Modi. Bank accounts connected to Nirav Modi’s sister Purvi Modi Mehta and Maiank Mehta were frozen — worth Rs 44 crore. According to a statement, Singapore High Court had ordered freezing of balance of USD 6.122 million (Rs. 44.41 crore) in the bank account maintained by Pavilion Point Corporation, British Virgin Island, a company beneficially owned by Mr. Maiank Mehta and Ms. Purvi Modi (brother-in-law and sister of Nirav Modi) on the request of the Enforcement Directorate.