ED provisionally attaches 41 immovable properties of Nirav Modi, Mehul Choksi worth Rs 1,217 crore
The billionaire had offered the Punjab National Bank jewellery worth Rs 2,000 crore and current account deposits worth Rs 200 crore.
The Enforcement Directorate on Thursday provisionally attached 41 immovable properties belonging to billionaire jeweller Nirav Modi and his uncle Mehul Choksi, Times Now reported. The properties, worth Rs 1,217 crore, were attached under the Prevention of Money Laundering Act.
The attached properties include 15 flats and 17 offices in Mumbai, Hyderabad Gems Special Economic Zone in Hyderabad, a shopping mall in Kolkata, a farmhouse in Alibaug and 231 acres of land in Maharashtra and Tamil Nadu, ANI reported.
Meanwhile, Nirav Modi offered jewellery worth Rs 2,000 crore, current account deposits worth Rs 200 crore and Rs 50 crore in immovable properties to the Punjab National Bank as part of a “concrete proposal” to settle his dues, the Hindustan Times reported on Thursday. Modi wrote to PNB on February 26 saying it was his response to the bank’s letter asking for a concrete plan to pay his dues, the newspaper quoted a person familiar with the matter as saying.
Modi and Choksi are accused of defrauding the Punjab National Bank of Rs 12,703 crore in one of India’s largest bank scams. The bank had initially said the amount was around Rs 11,380, but in a stock exchange filing later revealed additional fraud of Rs 1,323 crore.
“Modi has told the bank that he intended to resolve the matter and ensure justice is served to all,” another person who had seen the letter told the Hindustan Times.
The jeweller reportedly also said that all company operations were stalled because of the crackdown launched by various investigative agencies on his assets. The report said Modi urged the Punjab National Bank to take over his companies so his employees could be paid.
Meanwhile, the Bureau of Immigration on Wednesday issued a Blue Corner Notice against Modi and Choksi for allegedly defrauding the Punjab National Bank. It issued the notice on the Income Tax Department’s request, PTI reported.
A Blue Corner Notice is issued to locate, identify or get information about a person of interest in a criminal investigation. In this case, the notice against Modi and Choksi will be valid for a year from February 22 at all ports of embarkation.
Lawyer objects to ED’s non-bailable warrant plea
On Wednesday, Modi’s lawyer objected to the Enforcement Directorate seeking a non-bailable warrant against the diamond merchant, the Hindustan Times reported. The agency had moved the Prevention of Money Laundering Court for a warrant against Modi as he had not replied to three summons.
Modi’s lawyer Vijay Agrawal claimed his client had responded to all three summons, and that the agency could not seek a non-bailable warrant as it has not filed a formal complaint against the jeweller. The court will hear the case on Saturday.