PNB fraud: ED attaches pricey houses, land worth Rs 523cr of Nirav Modi group

PNB fraud: ED attaches pricey houses, land worth Rs 523cr of Nirav Modi group

Continuing its action against diamantaire Nirav Modi, the Enforcement Directorate on Saturday announced the attachment of his 21properties, including a penthouse and a solar power plant, worth around Rs 523.72 crore in connection with the Rs 11,394.02 crore banking fraud.


With this, the ED has seized assets worth Rs 6,393 crore in connection with the case registered after Punjab National Bank approached the CBI in connection with the fraud. The ED had filed a money laundering case on February 14 on the basis of the CBI FIR.


The penthouse, created by joining three flats,  valued at Rs 81.16 crore, a flat worth Rs 15.45 crore in the sea-facing Samudra Mahal apartments in the Worli area of Mumbai are among the attached properties.


Sources said the attached assets also include a farm house in Alibaug, 53-acre solar power plant, 135 acre land in Karjat in Ahmed Nagar district as well as residential and office properties in Mumbai and Pune. It includes six residential properties, ten office premises and two flats in Pune.


The Samudra Mahal properties and two other flats in Hadapsar in Pune are in the name of Nirav and his wife Ami. Assets attached in Kalaghoda and Opera House area in Mumbai are in the name of Nirav's diamond firm-- Firestarter Diamond International Pvt Ltd.


The farmhouse and adjoining land, worth over Rs 42.70 crore, in Alibaug belongs to Nirav Modi Trust. The solar plant valued at Rs 70 crore is located in Karjat.


Two office properties, worth about Rs 80 crore, in the name of Mark Business Enterprises Private Limited in the Lower Parel area of Mumbai have also been attached.  

 

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