PNB scam: Nirav Modi, Mehul Choksi's passports revoked

Passports of Nirav Modi and Mehul Choksi have been revoked, according to the sources in the Ministry of External Affairs (MEA).
 

Gitanjali Gems Chairman and Managing Director Mehul Choksi and his nephew, famous jeweller Nirav Modi, are the prime accused in the Punjab National Bank (PNB) scam.

The duo, whose locations are not known, are wanted in India for their alleged involvement in siphoning off money from the PNB to the tune of more than 11,000 crore rupees.

Earlier in the day, the Enforcement Directorate (ED) provisionally attached 21 immovable properties, worth Rs. 523.72 crore, of Nirav Modi and companies controlled by him.

The scam, allegedly started in 2011 , was unearthed last month, after which the PNB officials reported it to the concerned agencies.

The Enforcement Directorate (ED) on Saturday provisionally attached 21 immovable properties of noted jewellery designer Nirav Modi and companies controlled by him, in connection with the 1.77 billion dollar Punjab National Bank (PNB) fraud.

As per an official release, the properties, attached as per the provisions of the Prevention of Money Laundering Act, 2002, possess a total market value of Rs.523.72 crore.

The said properties include a farm house in Alibaug, a solar power plant, 135 acres of land in Ahmednagar, along with residential and office properties in Mumbai and Pune.