The agency had registered two separate money laundering cases in PNB bank fraud case against Nirav Modi, Mehul Choksi and others under the provisions of the PMLA on the basis of FIR registered by Central Bureau of Investigation (CBI).
In the Punjab National Bank (PNB) bank fraud case, the Enforcement Directorate (ED) attached a factory premise worth Rs 13.14 crore in Thailand under he Prevention of Money Laundering Act (PMLA), 2002. "The said factory premise is owned by Abbeycrest (Thailand) Limited which is a group company of Gitanjali Group," the ED said.
The agency had registered two separate money laundering cases in PNB bank fraud case against Nirav Modi, Mehul Choksi and others under the provisions of the PMLA on the basis of FIR registered by Central Bureau of Investigation (CBI).
It was alleged that the accused have committed the offence of cheating the Punjab National Bank in connivance with certain bank officials by fraudulently getting the letter of understanding issued. They thus got the financial literacy centres enhanced ignoring the prescribed procedure and caused a wrongful loss to the bank.
Investigations under the PMLA revealed that Abbeycrest (Thailand) Limited is the beneficiary of the LOUs issued fraudulently and unauthorisedly from PNB to the tune of Rs 92.3 crores.
During the investigation, this overseas property has been identified and after gathering concrete evidences of ownership, this property has been attached.
With this attachment, the value of attachment and seizure in PNB scam is to the tune of Rs 4,765 crore.
Last year in October, 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 Modi and his family members were seized.
The agency, however, claimed that the seizures and attachments worths Rs 637 were done in last three months. The assets worth Rs 637 crores were seized in India, UK, US, Singapore and Hong Kong under section 5 of Prevention of Money laundering Act.
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