The Enforcement Directorate (ED) has attached movable properties worth Rs 253.62 crore of fugitive diamantaire Nirav Modi’s group of companies in Hong Kong.
The attached assets included gems and jewellery and bank balances amounting to USD 30.98 million and HKD 5.75 million, equivalent to Rs 253.62 crore (as of Friday), an ED statement said.
On the basis of FIR under Section 420, 467, 471 and 120-B of the Indian Penal Code, 1860 and Section 13 of Prevention of Corruption Act, 1988 registered by the Central Bureau of Investigation (CBI), ED had initiated an investigation by recording Enforcement Case Information Report (ECIR) under Prevention of Money Laundering Act, 2002 (PMLA) in the case of Punjab National Bank (PNB) fraud of Rs 6,498.20 crore.