ED attaches more Nirav Modi assets in PNB fraud case

The Enforcement Directorate (ED) on Wednesday said it has provisionally attached ₹29.75 crore worth of assets belonging to fugitive diamond merchant Nirav Modi, the key accused in the Punjab National Bank (PNB) fraud case.

The ED had initiated a money laundering probe under relevant provisions of the Prevention of Money Laundering Act (PMLA) on the basis of a first information report (FIR) registered by the Central Bureau of Investigation (CBI) in the ₹6,498.20-crore bank fraud case.

The assets attached include immovable properties and bank balances belonging to Nirav Modi and his companies in India. The jeweller is currently lodged in a UK jail.


"During course of investigation, assets worth ₹29.75 crore of Nirav Modi and his group of companies lying in India were identified in the form of land and building and amount lying in bank accounts, which are being provisionally attached under PMLA, 2002," the agency said in a press statement.