Mumbai court slaps notice to attach diamantaire Nirav Modi's assets

Fresh legal troubles are brewing in Mumbai for the fugitive diamantaire Nirav D Modi currently seeking bail and battling extradition proceedings in a UK Court officials said here on ThursdayA Special Court under the Fugitive Economic Offenders Act 2018 has slapped notices to Nirav Modi and his sister Purvi Mehta who turned approver five months ago besides his group companies ordering them to appear before the Special Judge VC Barde on June 11 in MumbaiBarde has also asked them to show cause why the Special Court should not attach the properties and assets of the two siblings and the other group companies under the law in a moneylaundering case filed by the Enforcement Directorate ED in early 2018The development comes exactly threeandhalfyears after Nirav Modi several of his family members his maternal uncle Mehul C Choksi and others were accused of perpetrating a stunning fraud of around Rs 14000crore in the Punjab National Bank PNBEven before PNB admitted to the fraud and lodged a formal police complaint in January 2018 it emerged that Nirav Modi Mehul Choksi and others had already fled the country as the Central Bureau of Investigation and ED launched their independent probesBesides the MamaBhanja duo Modis group companies like Stellar Diamonds Firestar International Ltd Radashir Jewelery Co Pvt Ltd Firestar Trading Pvt Ltd Solar Exports Diamonds R Us Firestar Diamond International Ltd Mac Business Enterprises Pvt Ltd Bentley Properties Pvt Ltd and Nirav Modi Trust were under the scanner of the CBIED sleuths and are named in the Special Courts latest noticesShortly afterwards in Feb 2018 a Mumbai Magistrate ordered a nonbailable warrant against Modi in June 2018 the InterPol issued a Red Corner Notice followed by Indias request in Aug 2018 to the UK authorities seeking his extradition back homeIt was in March 2019 that a massive furore erupted in India after Nirav Modi was found sauntering on a London street and the Indian authorities went after him with renewed vigour resulting in his arrest that same monthAs he remains in jail a UK Court in Feb 2021 cleared his extradition to India to face charges of bank frauds moneylaundering etc even as Purvi and her husband Maiank Mehta turned approvers in the case in January 2021Incidentally in the past couple of years the EDCBI has managed to recover small sums by auctioning off Nirav Modis assets like halfadozen luxury vehicles designer bags highvalue wristwatches rare paintings artworks and other stuff while his deluxe bungalow in Alibaug Raigad was attached and demolished in March 2019After the PNB scam broke out over the next couple of years several other nationalised banks slowly came into the open and reveal how ModiChoksi had duped and dumped them in various loan accountsMeanwhile in early 2019 it came to light Choksi had acquired the citizenship of Antigua amp Barbuda Island in the West Indies in November 2017 and is currently embroiled in a legal tangle over his citizenship and related issuesThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever