The Enforcement Directorate on Saturday seized 21 of jewellery designer Nirav Modi’s properties, including a farmhouse and a penthouse, in connection with the alleged Rs 11,380 crore Punjab National Bank fraud case.
While the agency has so far seized gems, diamonds, jewellery, shares, bank deposits and expensive cars from Modi under the Prevention of Money Laundering Act, this is the first time it has attached immovable assets.
The properties attached are worth more than Rs 523 crore – Rs 81.16 crore penthouse (constructed by joining three flats), a flat worth Rs 15.45 crore in the sea-facing Samudra Mahal apartments in Mumbai’s Worli area, 10 office premises, two flats in Pune, a solar power plant, a farmhouse in Alibaug and 135 acres of land in Karjat, PTI reported.
“We have provisionally attached 21 immovable properties of Nirav Modi and companies controlled by him, with a market value of Rs 523.72 crore,” the agency said.
On Friday, the Enforcement Directorate froze Modi’s bank accounts that had a balance of Rs 30 crore and shares worth Rs 13.86 crore. It also seized 176 steel almirahs and 60 containers with imported watches.
The agency on Friday also issued fresh summons to Modi and his uncle Mehul Choksi, asking them to appear before it on February 26.
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