The ED had earlier provisionally attached 21 immovable properties worth Rs. 523.72 crore, belonging to the absconding jeweller and companies controlled by him
Nirav Modi
The Enforcement Directorate, on Sunday, seized Nirav Modi's Solar Power Plant in Ahmednagar and 134 acres of land as liquefiable assets in connection with the Punjab National Bank (PNB) fraud scam.
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The ED had earlier provisionally attached 21 immovable properties worth Rs. 523.72 crore, belonging to the absconding jeweller and companies controlled by him. According to the sources in the Ministry of External Affairs (MEA), the passports of Gitanjali Gems Chairman and Managing Director Mehul Choksi and Nirav Modi, his nephew, have been revoked, as they have failed to respond to the MEA's show cause notice.
Modi and Choksi, who had acquired letters of undertaking (LoUs) to avail credit from various sources, are wanted in India for their alleged involvement in siphoning off money from the PNB to the tune of more than US $ 1.8 billion. The scam, allegedly started in 2011, was unearthed last month, after which the PNB officials reported it to the concerned agencies.
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