Mumbai (Maharashtra): The Enforcement Directorate has attached 11 properties of fugitive diamantaire Nirav Modi and his group Company Firestar Diamond FZE in Dubai having a market value of USD 7.795 million, equivalent to Rs 56.8 crore in connection with the Punjab National Bank (PNB) fraud case, under the Prevention of Money Laundering Act (PMLA), 2002.
Last month, Nirav Modi’s lawyer had filed nine applications before Mumbai’s PMLA court in a reply to the ED application seeking to declare his client a fugitive offender. The next hearing in the case is scheduled for November 19.
On October 25, the ED attached properties belonging to Nirav Modi in Hong Kong, worth Rs 225 crores, under the PMLA Act, in connection with the PNB fraud case. At that time, the total attachments in the case was Rs 4,744 crore.
Nirav Modi has been under the scanner of central agencies for his alleged involvement in the multi-crore PNB scam.