More assets of Nirav attached ED seizes `523cr properties in fresh action

Mumbai/New Delhi, Feb. 24: The Enforcement Directorate (ED) on Saturday attached 21 properties, including a penthouse and a farmhouse, of Nirav Modi and his group worth over `523 crore in fresh action against the beleaguered jeweller in the alleged ``11,400 crore fraud in the PNB.

The central probe agency said it has issued a provisional order for attachment of the assets, under the Prevention of Money Laundering Act (PMLA), and seized a `81.16 crore valued penthouse (created by joining three flats) and a flat worth `15.45 crore in the sea-facing Samudra Mahal apartments in the Worli area of Mumbai.

“As many as 21 immovable properties of Nirav Modi and companies controlled by him, with a market value of `523.72 crore, have been provisionally attached.

“These include six residential properties, 10 office premises, two flats in Pune, a solar power plant, a farmhouse in Alibaug and 135 acres of land in Karjat in Ahmednagar district,” the agency said.

While the agency had earlier seized gems, diamonds, jewellery, shares, bank deposits and costly cars in this case since it registered a criminal case under PMLA on February 14, this is the first major action to seize immovable assets.

A farmhouse and adjoining land, worth over `42.70 crore,in the Kihim area of beach-side Alibaug of the Nirav Modi Trust has also been attached. — PTI