Nirav Modi’s firm moves Delhi High Court against seizure of properties by Enforcement Directorate
Firestar Diamond sought a copy of the search warrants from the government.
Businessman Nirav Modi’s company Firestar Diamond moved the Delhi High Court on Tuesday against the Enforcement Directorate’s investigation into the alleged Rs 12,700-crore fraud at Punjab National Bank, PTI reported. The company claimed the investigating agency conducted searches and seizures of its properties without following due process, according to The Times of India.
The company challenged the provisions of the Prevention of Money Laundering Act that allowed the ED to search and seize the properties, and sought a copy of the search warrants from the Ministry of Finance and Directorate of Enforcement.
On March 1, the ED had provisionally attached 41 immovable properties belonging to Modi and his uncle Mehul Choksi. The properties, worth Rs 1,217 crore, were attached under the Prevention of Money Laundering Act. This came a week after the agency had seized 21 other properties, including a farmhouse and a penthouse.
Apart from these assets, the agency has so far also seized gems, diamonds, jewellery, shares, bank deposits and expensive cars from Modi under the Prevention of Money Laundering Act.
On March 3, a special PMLA court had issued non-bailable warrants against Modi and Choksi on the ED’s request. The agency had told the court that Modi had not appeared for questioning despite being issued summons three times – on February 15, 17 and 23. Both Modi and Choksi are currently outside India.