Troubles are mounting for prime accused in Rs 13,000 crore PNB-scam, Nirav Modi as the Enforcement Directorate, on Thursday, attached his valuables worth 34.97 Million USD ( INR 255 Crores approx.) in Hong Kong under the Prevention of Money Laundering Act, 2002 (PMLA, 2002). As per the reports of the ED, total attachment of Nirav Modi’s assets in the PNB scam has now been amounted to Rs 4744 crore since the beginning of the case in February 2018.
In a statement released by the ED, the law enforcement agency stated that the said valuables were exported via 26 shipments by Dubai based companies owned by Nirav Modi to the Hong Kong-based companies controlled by Nirav Modi, after the registration of the case in India.
“During the investigation, intelligence has been gathered 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, ownership etc of these shipments were obtained through investigation and after gathering the evidence of ownership and value of the goods, the same has been attached. Further investigation is in process”, ED stated.
In an earlier incident on October 5, an appellate tribunal, under the Prevention of Money Laundering Act, was ordered to auction Nirav Modi’s assets worth Rs. 523,72,37,000 (Rs. 523 crores). In a detailed tribunal, the order had also named all the partners of Nirav Modi including his wife Ami Nirav Modi, brother Nishal Modi and uncle Mehul Chinubhai Choksi of being involved in the Punjab National Bank (PNB) scam. The appellate listed out 21 immovable assets worth market value of Rs 523 crore of Nirav Modi which would be auctioned on December 10, 2018.
On October 10, the court declared Nirav Modi an absconder. Currently, Nirav Modi is said to be in London and the government is trying to bring him back to India.As per the tribunal, the list of Nirav Modi's properties to be auctioned will be out on December 10, 2018.