ED restitutes property worth Rs 13.58 cr to victims in a fake remittances case
As per the federal anti-money laundering agency's investigation, huge amounts were remitted to various companies based in Hong Kong, China and Dubai.
In a major setback for fugitive diamond jeweller Nirav Modi, the Enforcement Directorate on Tuesday said the Singapore High Court has ordered freezing of a bank account worth Rs 44 crore related to his sister Purvi Modi and her husband Maiank Mehta.
A senior ED official told IANS, “The Singapore High Court has ordered the freezing of the balance of $6.122 million (Rs 44.41 crore) in the bank account maintained in Singapore by Pavilion Point Corp, British Virgin Island, a company beneficially owned by Maiank Mehta and Purvi Modi on our request.”
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The ED, which is investigating Nirav Modi in the Punjab National Bank fraud case, said it believed that deposits in the bank account were made from proceeds of crime illegally siphoned off by Nirav Modi from the state-run Indian bank.
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Nirav Modi is currently in a London jail.
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