Nirav Modi’s Rs. 6393 Crores Properties seized by the Enforcement Directorate.
Finally it looks like some actions are going to be taken against PNB fraud case accused Nirav Modi. Actions are being taken and his properties are being seized to recover for the loss that he caused. The Enforcement Directorate today has attached 21 properties of Nirav Modi which includes a penthouse and a farmhouse worth over Rs. 523 crore.
The agency said it has issued a provisional order for attachment of the assets & seized a Rs. 81.16 crore valued penthouse and a flat worth Rs. 15.45 crore in the sea-facing Samudra Mahal apartments in the South Mumbai’s Worli.
“21 immovable properties of Nirav Modi and companies controlled by him, with a market value of Rs. 523.72 crore, have been provisionally attached.
A farmhouse and adjoining land, worth over Rs. 42.70 crore in Alibaug were also attached
It include 6 residential properties, ten office premises, 2 flats in Pune, a solar power plant, a farmhouse in Alibaug and 135 acres of land in Karjat in Ahmednagar district, the agency said.
While the agency had earlier seized gems, diamonds, jewellery, shares, bank deposits and costly cars in this case since it registered a criminal case on February 14, this is the first major action to seize immovable assets.
A farmhouse and adjoining land, worth over Rs. 42.70 crore, in the Kihim area of beach-side Alibaug of the Nirav Modi Trust has also been attached.
A 53-acre solar power plant, valued at Rs. 70 crore, in the Karjat area of Ahmednagar district of the state has also been brought under the same action.
Two office properties, worth about Rs. 80 crore, in the name of Mark Business Enterprises Private Limited in the Lower Parel area of Mumbai have also been attached.
The total assets seized by the ED in this case are now over Rs. 6,393 crore, officials claimed.