The CBI on Saturday questioned the chairman and managing director (CMD) and the executive director of the Punjab National Bank (PNB) in the Rs 11,400 crore money laundering case involving Nirav Modi and his uncle and partner Mehul Choksi
The CBI on Saturday questioned the chairman and managing director (CMD) and the executive director of the Punjab National Bank (PNB) in the Rs 11,400 crore money laundering case involving Nirav Modi and his uncle and partner Mehul Choksi.
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Officials in the CBI confirmed that they were questioning CMD of PNB, S Mehta, and executive director Brahmaji Rao in Mumbai. Officials said they were getting to know the procedures as to how the fraud came to light and what were the checks and balances and how did the scam take 10 years to come to light.
ED seizes 21 properties
In a separate development, the Enforcement Directorate (ED) on Saturday attached 21 immovable properties of Nirav Modi and his company, including the Alibaug farmhouse. As per ED officials, the total worth of the properties is around R523.72 crore and the properties attached by them include a farm house in Alibaug, solar power plant, 135 acre land in Ahmednagar, and residential and office properties in Mumbai and Pune.
Jewellery on top
When the ED filed a case under Prevention of Money Laundering Act (PMLA), they started with attaching jewellery belonging to Modi and his uncle and partner, Mehul Choski. So far, jewellery and other assets worth over R6,000 crore have been attached by the agency.
The ED had also attached one Rolls Royce Ghost, two Mercedes Benz GL 350 CDIs, one Porsche Panamera, three Honda cars, one Toyota Fortuner and one Toyota Innova. The CBI has also filed two separate cases and is probing the actual scam and has filed cases for cheating and conspiracy.
Also Read: PNB Scam: ED Freezes Deposits, Shares Worth Rs 44cr Of Nirav Modi Group
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