ED seizes Nirav Modi’s watches, jewellery, paintings worth ₹26 cr
A fresh seizure of antique jewellery, costly watches and paintings of Amrita Sher-Gil and M F Hussain worth ₹26 crore has been made by the Enforcement Directorate (ED) from the seafacing Mumbai apartment of diamond trader Nirav Modi in connection with the over ₹13,000 crore Punjab National Bank (PNB) fraud case.
Officials said the Enforcement Directorate along with the Central Bureau of Investigation (CBI) launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Modi in Mumbai’s Worli area which resulted in the recovery of fresh valuables.
Antique jewellery worth ₹15 crore, costly watches valued at ₹1.4 crore and paintings of acclaimed artists like Amrita Sher-Gil, MF Hussain and K K Hebbar valued at ₹10 crore have been seized over the last three days under the Prevention of Money Laundering Act (PMLA), they said.
A lone diamond ring in this cache is valued at ₹10 crore, they added.
The central probe agency has filed two money laundering first information reports (FIRs) against Nirav Modi and his uncle and Gitanjali Gems promoter Mehul Choksi to probe the alleged over ₹13,000 crore fraud in the Punjab National Bank (PNB).
The ED has also notified the Interpol for a global arrest warrant against the two as they have left India early this year and have not appeared before the agency after summonses were issued to them.
A Mumbai special court has issued non-bailable warrants against them on the request of the Enforcement Directorate.
The agency has so far conducted a total of 251 countrywide searches in this case after it began the criminal probe against the accused in February.
The total seizure and attachment of diamond, gold, precious and semi-precious stones and other movable and immovable assets in the case stand at ₹7,664 crore.
MUMBAI/NEW DELHI: