Further trouble for Nirav Modi

Nirav Modi (File Photo)

In further trouble for diamantaire Nirav Modi, the Singapore High Court has ordered the freezing of bank deposits worth USD 6.122 million (Rs 44.41 crore) in that country belonging to his sister and brother-in-law, which the Enforcement Directorate has claimed was part of a money-laundering probe in India.

The bank account is in the name of Pavillion Point Corporation, based in the British Virgin Islands, a company that is "beneficially owned" by Nirav's sister Purvi Modi and brother-in-law Maiank Mehta, the ED said.

"Singapore High Court has ordered attachment of bank accounts having a balance of USD 6.122 million (Rs. 44.41 crores) on the request of ED in the Nirav Modi case," the agency tweeted on Tuesday.

Nirav, who is accused in the over Rs 13,000 crore Punjab National Bank scam, is currently under arrest in the United Kingdom and India is seeking his extradition.

The ED said that the Singapore High Court has put a freeze on deposits of USD 6.122 million following its request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav from the PNB.

The agency has not said when the order was given by the court.

This order comes close on the heels of Switzerland authorities freezing four Swiss bank accounts of diamantaire Nirav and his sister on the request of the ED. The accounts have deposits of around Rs 283.16 crore.

Nirav had left India last January, days before the CBI registered a case against him, his wife, brother and uncle in the scam. The ED also registered a case and Purvi was named as an accused by the ED in its charge sheet filed before a Mumbai court. 

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