<img title="Nirav Modi" src="https://images.mid-day.com/images/images/2018/feb/Nirav-modi-rr.jpg" alt="Nirav Modi" /> Nirav Modi
Nirav Modi will no longer be able to enjoy the luxury cars and paintings that he spent his crores on. The Enforcement Directorate (ED) today seized nine cars, including a Rolls Royce Ghost and Porsche Panamera. The agency also attached Modi's art collection, including works by M F Husain, Francis Souza, Amrita Shergil, VS Gaitonde, Akbar Padamsee and Bharti Kher. Evaluation of their value is on.
ED officials said they were searching for more assets belonging to the accused in the Punjab National Bank (PNB) money laundering case.
<img title="The Rolls Royce Ghost" src="https://images.mid-day.com/images/images/2018/feb/Rolls-Royce.jpg" alt="The Rolls Royce Ghost" /> The Rolls Royce Ghost
The ED has also frozen mutual funds and shares worth Rs 7.8 crore belonging to <a title="Nirav Modi" href="https://www.mid-day.com/topic/nirav-modi-all" target="_blank">Nirav Modi,</a> along with funds amounting to R86.72 crore belonging to his uncle Mehul Choksi's group. This is in addition to the Rs 5,716 crore worth of assets the directorate had seized earlier. During the raids, the investigators also searched for proceeds from the accuseds' crimes, and are examining the data trail.
The ED had registered a case against Modi and the fellow accused on the basis of two FIRs filed by the Central Bureau of Investigation (CBI).
<img title="The ED seized Modi's Porche Panamera and other cars" src="https://images.mid-day.com/images/images/2018/feb/porche.jpg" alt="The ED seized Modi's Porche Panamera and other cars" /> The ED seized Modi's Porche Panamera and other cars
The economic watchdog has further asked the Income Tax department for data on shell companies linked to the case. ED officials stated that for now, they are collecting information from various sources, and the actual investigation will take more time.
Also Read:&nbsp;<a title="Nirav Modi Not Absconding, Out For Business Purpose, Say Lawyer" href="https://www.mid-day.com/articles/nirav-modi-not-absconding-out-for-business-purpose-say-lawyer/19096180" target="_blank">Nirav Modi Not Absconding, Out For Business Purpose, Say Lawyer</a>
Officials added that they did not want to give time to the accused to tamper with the evidence, and hence they seized his assets. Further in the probe, the ED is expected to ask for the auditors' report from the bank.
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In early morning swoop, Enforcement Directorate seized nine luxury cars, along with prized art collection; mutual funds and shares worth Rs 7.8 crore also temporarily frozen

Nirav Modi loses Rolls Royce, MF Hussain in PNB scam raid

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Home / Mumbai / Mumbai News / Article / Nirav Modi loses Rolls Royce, MF Hussain in PNB scam raid

Nirav Modi loses Rolls Royce, MF Hussain in PNB scam raid

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