Another economic injury of ED on Nirav Modi, property worth 329.66 crore seized

• 4 flats of Nirav Modi seized in Samudra Mahal building in Worli, Mumbai
• Nirav Modi is lodged in London’s Wandsworth Jail in money laundering case

The investigative agencies are constantly being screwed over the fugitive diamond trader Nirav Modi. Now the Enforcement Directorate (ED) has seized Nirav Modi’s property worth Rs 329.66 crore under the Economic Offenses Act.

The ED said that the seized properties included four flats in Samudra Mahal Building in Worli, Mumbai, land and land near Alibaug, a farmhouse near Jaisalmer, a windmill in Jaisalmer, flats in London and residential flats in the United Arab Emirates (UAE). . Apart from this, shares and bank deposits are also included in this seizure.

Nirav Modi is in jail in London

Nirav Modi is currently lodged in Wandsworth Jail in London in connection with the loan scam and money laundering with Punjab National Bank. Last month, a Westminster court in London ordered Nirav Modi to be kept in judicial custody till further July 9.

Significantly, the extradition case is going on in the UK against Nirav Modi in the fraud case of Punjab National Bank (PNB), his extradition case is going to be heard on 7 September. Nirav Wandsworth Jail is closed from 19 March 2019.

Nirav Modi and his maternal uncle Mehul Choksi are the main accused in the fraud case of about Rs 14,000 crore from Punjab National Bank, which is connected to the alleged fraud in issuing the guarantee letter. It is known that since the PNB scam was exposed in January 2018, the CBI and ED are investigating the case.