ED attaches gems, bank deposits worth over Rs 253 cr of Nirav Modi group

The Enforcement Directorate said it attached gems, jewellery and bank deposits worth Rs 253.62 crore of companies linked to fugitive diamond merchant Nirav Modi as part of a money laundering probe.

Enforcement Directorate
Press Trust of India New Delhi
1 min read Last Updated : Jul 23 2022 | 12:35 AM IST

The Enforcement Directorate Friday said it has attached gems, jewellery and bank deposits worth Rs 253.62 crore of companies linked to fugitive diamond merchant Nirav Modi as part of a money laundering probe.

All these moveable assets are in Hong Kong, the agency said in a statement.

Some assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelleries lying in private vaults and bank balances in accounts maintained there and these have been provisionally attached under sections of the Prevention of Money Laundering Act (PMLA), it said.

Nirav Modi, 50, is presently lodged in a UK jail and has lost his extradition plea to India in connection with the USD 2-billion PNB fraud case that is also being investigated by the CBI.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Nirav ModiEnforcement DirectorateNirav Modi scam at PNB

First Published: Jul 22 2022 | 7:40 PM IST

Next Story