While the jeweller is believed to be in the US, authorities also want a notice against his uncle Mehul Choksi; ED seizes Modiu00c3u00a2u00c2u0080u00c2u0099s luxury cars, shares, mutual funds worth Rs 90 crore
The Rolls Royce Ghost and Porsche Panamera which were seized.
Agencies probing the Nirav Modi scam involving money laundering of over Rs 11,000 crore, are now stepping up their efforts to locate him, as he is believed to be holed up in the US. Officials in the Central Bureau of Investigation (CBI) probing the case said they were already tracking both Modi and his uncle/partner Mehul Choksi.
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Modi is suspected to have gone out of the country from Mumbai around January and the officials have said they were tracing his trail at various airports. The agencies will also be approaching Interpol to issue a lookout circular (LOC) against him and Choksi, which would help get them arrested if they travel.
Shares/Mutual funds seized
"Getting the accused back would depend on many factors like which country he is in, does India have an extradition treaty with the country, and does the country where he is found consider cases filed against him to be serious," said an officer. Officials said they were not aware of the exact location but suspect Modi is in the US.
The enforcement directorate (ED) seized nine cars, shares and mutual funds worth around Rs 90 crore belonging to Modi on Thursday. The cars were seized from his Worli residence.
The cars seized include a Rolls Royce Ghost, two Mercedes Benz GL 350 CDIs, a Porsche Panamera, three Hondas, a Toyota Fortuner and a Toyota Innova. ED officials said they were further searching for more assets belonging to Modi’s group in the money laundering case. ED officials have also found several paintings of MF Husain, VS Gaitonde and other prominent artists, but they were yet to be seized.
Rs 5,716-crore assets seized
The ED had earlier seized assets worth Rs 5,716 crore belonging to Modi and Choksi after they filed the case. Officials of ED said that they have also begun the process of valuation of all the seized assets. Apart from seizing assets during the raids, ED was also searching for the proceeds of the crimes and examining the data. There is also jewellery worth over Rs 5,000 crore in the seized assets.
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