The Enforcement Directorate (ED) on Saturday said that it has attached properties worth Rs 25 crore of diamond jeweller Nirav Modi in connection with its ongoing probe into the Rs 13,540 crore PNB fraud case.
The ED carried out three-day long searches starting Thursday at Nirav Modi’s palatial residence ‘Samudra Mahal’ in Mumbai along with a Central Bureau of Investigation (CBI) team, an official said.
The official also said that the searches continued till Saturday morning and resulted in the seizure of antique jewellery worth Rs 15 crore, high-end watches valued at Rs 1.40 crore and paintings worth Rs 10 crore that includes artworks by M.F. Hussain, K.K. Hebbar, Amrita Shergil.
The ED also attached a diamond ring valued at Rs 10 crore.
Nirav Modi, his uncle Mehul Choksi of the Gitanjali Group and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank of over Rs 13,540 crore, with the purported involvement of a few employees of the bank.
Till date, the ED has carried out searches at over 251 properties across the country and seized diamond, gold, precious and semi-precious stones, pearls.
The ED has also attached immovable properties belonging to Nirav Modi Group and Mehul Choksi group to the tune of Rs 7,638 crore. Several persons employed by their firms have been questioned and some arrested.
Choksi, Nirav Modi and his family fled in January around a month before the PNB filed first complaint against them about the fraud and they are still at large.