Nirav Modi and his family members are wanted in the Rs 13,000-crore Punjab National Bank (PNB) fraud case and red corner notice has been issued against them.
Diamond-studded jewellery in Hong Kong, luxurious flats in London, Mumbai and New York and banks account in British Virgin Island worth Rs 637 crore of fugitive billionaire jeweller Nirav Modi and his family members were seized, the financial investigating agency Enforcement Directorate (ED) probing money laundering case claimed on Monday.
Nirav Modi and his family members are wanted in the Rs 13,000-crore Punjab National Bank (PNB) fraud case and red corner notice has been issued against them.
The agency, however, claimed that the seizes and attachments worths Rs 637 were done in last three months.
"For the last three months, ED has been working in close coordination with overseas agencies in order to identify and attach overseas assets of Nirav Modi, which were kept secret, at various international locations," the agency said in a statement.
The assets worth Rs 637 crore were seized in India, the UK, US, Singapore and Hong Kong under Section 5 of Prevention of Money Laundering Act (PMLA).
(ED seized Rs 22.69 crore worth diamond jewellery)
The agency said diamond studded jewellery of worth 22.69 crore was brought back to India from Hong Kong in 23 shipments. During investigation, it was found that a stock of jewellery had been shipped abroad from India after registration of FIR by CBI. The stock value of this jewellery was declared around 85 crore and this jewellery was sent to Hong Kong by Firestar Group of Companies to Hong Kong. On independent valuation, the value of the jewellery comes out to 22.69 crores and the jewellery has been seized.
A flat in South Mumbai worth 19.5 crore of Nirav's sister Purvi Modi was attached. It was purchased by Purvi in 2017.
An account belonging to a investment company registered in British Virgin Island and owned by Purvi and Maiank Mehta in Singapore with having balance of $6.12 million (Rs 44 crore) has also been attached.
Five accounts having balance of total Rs 278 crore have also been attached. These accounts belonged to Nirav and Purvi and their controlled companies and are maintained in overseas banks in foreign jurisdiction.
Further a immovable property having value of Euro 6.25 million (Rs 56.97 crore) and owned by Purvi in London, United Kingdom has also been attached. The property is flat no 103, Marathon House, 200 Marylebone Road, London was purchased in 2017.
Two immovable properties worth $29.99 million (Rs 216 crore) owned by Nirav in New York have also been attached. The properties are in Central Park New York.
"The ultimate source of the funds used to purchase this property was stolen money from PNB,"said ED adding that they agency has also sent Letters of to the authorities of foreign jurisdictions for further attachments of properties.
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