India Abroad

PNB Scam: Enforcement Directorate Attaches Rs 637 Crore Assets Of Fugitive Nirav Modi

JAVED SAIFI | 0
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| October 1 , 2018 , 11:38 IST

In a yet another action, the Enforcement Directorate has attached worth Rs 637 crore assets of absconding Nirav Modi in India and four other countries. Modi is an accused involved in the Punjab National Bank money laundering scam of over $2 billion who fled the country with his wife in the first week of January before the announcement of PNB scam.

The ED has attached properties, jewellery, flats and bank balances of Modi in India, UK, New York and other.

The two immovable properties having a total value of USD 29.99 Million (Rs 216 crores approximately) are beneficially owned by Modi in New York have also been attached by the ED under section 5 of the Prevention of Money laundering Act (PMLA).

Also Read: UK Confirms Nirav Modi Presence, CBI Moves Extradition Request

It is one of the few cases in which Indian agencies have attached assets of any criminal in abroad.

The Central Burea Investigation (CBI) had requested the UK authorities to detain Modi on the basis of the Red Corner Notice issued by the Interpol against Modi on July 2.

In the issued RCN, the Interpol urged its 192 member countries to detain or arrest Modi if he spotted in their countries so that extradition can begin.

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