NEW DELHI: The Enforcement Directorate on Friday said it has seized gems, jewelery and bank deposits worth Rs 253.62 crore from companies linked to fugitive diamond merchant Nirav Modi as part of a money laundering probe.
All these movable assets are located in Hong Kong, the agency said in a statement. Some of the assets of the Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelery lying in private vaults and bank balances in accounts maintained there and were seized under the provisions of the Prevention of Money Laundering Act (PMLA). 50-year-old Nirav Modi is currently in jail in England and is also being investigated by the CBI in the Punjab National Bank (PNB) fraud case of two billion US dollars. Actions are underway to bring him back to India. (PTI)
