Mumbai: National Bank Punjab (PNB) on Wednesday moved several applications before the Special PMLA court here, seeking assets recovery from two companies owned by the Fugitive Diamond Merchant NIRAV Modi, which was accused of deceiving banks.
The bank submitted an application before the Special Judge V C Barde under the relevant provisions of the prevention of money laundering Law (PMLA).
The Directorate of Enforcement (ED) has a pre-confiscated asset worth more than RS 329.66 Crore Nirav Modi under the Fugitive Economic Browser Law.
This persaing property includes the assets of Firestar Diamond International Private Limited and Firestar International Limited, the company owned by Modi.
NIRAV Modi and his uncle Mehul Choksi, both of them accused Prime in this case, along with other people being examined by the Directorate of Enforcement (ED) on charges of money laundering for suspected bank fraud more than $ 2 billion (more than RS 13,000 Crore) in Cnivance.
With bank officials and with the issuance of fraudulent letters (BOT) in Brady House PNB Branch in Mumbai.
The court has asked Ed to submit a reply on July 28.
NIRAV Modi (49) was declared a fugitive economy by the PMLA court in December 2019.
After that, the court has ratified Ed to confiscate assets under the provisions under the provisions.
action.
He is currently nested in British prison after being arrested in London in March 2019 and currently fighting with extradition to India.
PNB Looking for the Recovery of NIRAV Company Assets
