There is more trouble for fugitive diamantaire Nirav Modi and his companies, as the Enforcement Directorate has reportedly attached his properties worth Rs. 147.72 crore
The attached movable and immovable properties are located in Mumbai and Surat in Gujarat, and have a market value of Rs. 147,72,86,651. The properties comprise eight cars; plant and machinery; consignments of jewellery; paintings and some buildings.
The properties are owned by Nirav Modi, who is an accused in the over Rs. 13,000-crore PNB scam, and his group of companies namely Firestar Diamond International Private Limited, Firestar International Private Limited, Radheshir Jewelry Company Private Limited and Rhythm House Private Limited, an official said.
The properties were attached by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), 2002.
Investigation revealed that substantial proceeds of crime obtained fraudulently by the Nirav Modi-owned group of firms Solar Exports, Stellar Diamonds and Diamond RUS from the Punjab National Bank (PNB) were diverted to him, his relatives and entities controlled by him.