JOIN USThe Enforcement Directorate (ED) Has attached valuables and jewellery worth Rs 255 crore belonging to fugitive diamontaire Nirav Modi in Hong Kong in connection with multi-crore Punjab National Bank loan fraud case.
The valuables—diamonds and jewellery—were lying at a logistics company vault in Hong Kong.
"The said valuables were exported through 26 shipments by Dubai based companies of Nirav Modi to the Hong Kong based companies controlled by him after the registration of the case (for money laundering) in India," the ED said.
The agency had issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of these assets.
An order issued by a court for the said attachment will soon be sent to Hong Kong “to formalise” the agency's PMLA attachment order, the ED said.
"Details like value, consignee, shipper, ownership among others of these shipments were obtained during investigation and after gathering the evidences of ownership and value of the goods, the same have been attached," it said.
With this, the valuables and assets of fugitive Nirav attached by the ED in connection with the case so far has reached about Rs 4,744 crore.
Earlier this month, the ED attached Nirav and his family's assets worth Rs 637.16 crore in India and four other countries including three flats in London and iconic Central Park in New York, in connection with the PNB loan fraud case.
The agency attached the fugitive diamontaire's assets in the United States, United Kingdom, Singapore and Hong Kong besides India which bank accounts, flats and diamond-studded jewellery, which was kept in a vault of a private company in Hong Kong and brought back to India in 23 shipments.
The ED has been working in close coordination with overseas agencies to identify and attach overseas assets of Nirav kept at various locations internationally.