ED attaches fresh assets worth Rs.171 cr of absconding diamond trader Nirav Modi in connection wtih PNB fraud case

The Enforcement Directorate (ED) has attached assets worth over 171 crore rupees owned by the absconding diamantaire in connection with its money laundering probe in the over 2 billion dollars PNB fraud case. 

The central probe agency said it issued a provisional order under the Prevention of Money Laundering Act (PMLA), attaching four commercial premises -- with the market value of 72.87 crore rupees -- in Mumbai and Surat, 106 bank accounts holding 55.12 crore rupees of deposits, 15 demat accounts containing 35.86 crore rupees and 11 cars valued 4.01 crore rupees. The ED had earlier attached



21 assets - worth 523.72 crore rupees belonging to Nirav Modi in this case.

Meanwhile, the CBI in its charge sheet has alleged Former MD and CEO of the Punjab National Bank Usha Ananthasubramanian and some other senior bank officials were aware of the fraudulent dealings with diamond merchant Nirav Modi but kept misleading the RBI.

Nirav Modi and Choksi are being investigated by the ED for allegedly cheating the Punjab National Bank, the country's second-largest lender, to the tune of more than 13,000 crore rupees.