New Delhi: The Enforcement Directorate (ED) on Wednesday attached assets worth Rs 218 crore in connection with the multi-crore Punjab National Bank (PNB) fraud case.
According to sources in the Central probe agency, the properties, including diamonds and flats abroad, allegedly belonging to the accused in the case have been attached. The beneficiaries of these assets put under attachment, said the agency, are absconding diamond jeweller Mehul Choksi, Mihir Bhansali, a close aide and US-based executive of main accused in the case Nirav Modi, and a company named AP Gems and Jewellery Park linked to Choksi. The total value of the attached and seized assets is Rs 218.46 crore, the ED said.
The ED said three provisional orders under the Prevention of Money Laundering Act (PMLA) were issued by the Central investigative agency’s zonal office in Mumbai for attachment of the properties. The attached properties include a Rs 51 crore flat of Bhansali in a foreign country and the agency said it was purchased by him and his wife jointly. It was not immediately clear as to which country this asset is based in.
“Bhansali is a close confidante of Nirav Modi and beneficiary of the scam. He was actively involved in the diversion of funds received from PNB’s LoU’s (letters of undertaking),” the ED said in a statement.
Similarly, a villa valued at Rs 27 crore of Choksi in an undisclosed country has also been attached. A 2,10,000 sq feet building on a 2.5 acre land in Hyderabad’s posh Banjara hills has been attached and the agency said it is in the name of AP Gems and Jewellery Park. The ED said Choksi holds 89 per cent of shares in this firm by way of a convoluted structure and overseas entity. It added that a flat worth Rs 1.70 crore in Trump Towers in Mumbai in the name of Choksi’s daughter has been also attached.
“For purchase of this flat, Rs 1.7 crore was transferred by Choksi to the Belgian bank account of his daughter and the money was again brought to India for making payment to the builder,” the ED charged. Also, diamonds worth '18.76 crore belonging to the Firestar group of Nirav Modi were seized as part of the latest order, it said.
The agency said it is getting issued letters rogatory or judicial requests to formalise the overseas attachments with the help of their foreign counterparts. The total value of attachments in this case with this latest order stand at Rs 4,488 crore now, it said.
