PNB fraud case : Enforcement Directorate seizes assets worth Rs 5,100 crore
The Enforcement Directorate seized diamonds, jewellery and gold worth Rs 5,100 cr during searches in Nirav Modi case, officials said. Six properties have been sealed by the ED in Mumbai.
The Enforcement Directorate today conducted multiple searches in connection with a Rs 280 crore money laundering case against billionaire jewellery designer Nirav Modi and others following a complaint by Punjab National Bank.
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Official sources said the agency sleuths swooped down on at least ten premises of entities involved in the case early morning.
The premises raided by the ED here include Modi’s residence in Kurla, his jewellery boutique in Kala Ghoda area, three company locations in Bandra and Lower Parel, three premises in Surat in Gujarat and Modi’s showrooms in Chanakyapuri and Defence Colony in Delhi.
The ED had filed a case under the Prevention of Money Laundering Act (PMLA) after going through a CBI FIR registered early this month.
It is understood that the ED also went through the PNB complaint that was made out against Modi and others.
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