Nirav Modi case: PNB moves PMLA court, seeks restoration of assets

PNB on Wednesday moved an application before the special PMLA court for restoration of confiscated properties worth ₹71.16 crore in the money laundering case against Nirav Modi. PNB is the complainant in the over ₹13,500 crore loss caused by Modi and his uncle Mehul Choksi. In its application the bank said that it has suffered a loss of ₹8,526.20 crore on account of fraud committed by Nirav Modi. The present application was restricted to seeking releases of mortgage hypothecated gurantors properties. While Nirav Modi is fighting his extradition plea in London, Choksi is currently residing in Antigua & Barbuda.