Paintings of acclaimed artists like Amrita Sher-Gil, M.F. Hussain and K.K. Hebbar valued at Rs 10 crore have been seized.
New Delhi: The Enforcement Directorate (ED) has made a fresh seizure of antique jewellery, costly watches and paintings of Amrita Sher-Gil and M.F. Hussain worth Rs 26 crore from the sea-facing Mumbai apartment of diamantaire Nirav Modi as part of its investigation into the multi-crore Punjab National Bank (PNB) fraud case.
Sources said the ED along with the CBI launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Modi in Mumbai’s Worli area which resulted in the recovery of fresh valuables. Antique jewellery worth Rs 15 crore, costly watches valued at Rs 1.4 crore and paintings of acclaimed artists like Amrita Sher-Gil, M.F. Hussain and K.K. Hebbar valued at Rs 10 crore have been seized over the last three days under the Prevention of Money Laundering Act (PMLA), they said adding that a lone diamond ring in this cache is valued at Rs 10 crore, they added.
The Central agency has filed two money laundering FIRs against Nirav Modi and his uncle and Gitanjali Gems promoter Mehul Choksi to probe the alleged over Rs 1,200 crore fraud in the PNB. The ED has also notified the Interpol for a global arrest warrant against the two as they have left India early this year and have not appeared before the agency after summonses were issued to them. A Mumbai special court has issued non-bailable warrants against them on the request of the ED. It has conducted a total of 251 country-wide searches in this case after it began the criminal probe against the accused in February. The total seizure and attachment of diamond, gold, precious and semi-precious stones and other movable and immovable assets in the case stand at Rs 7,664 crore.