ED makes fresh seizure from Nirav Modi's Mumbai residence

24 Mar 2018

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A fresh seizure of antique jewellery, costly watches and paintings worth Rs25 crore has been made by the Enforcement Directorate (ED) from  from the residence of Nirav Modi in connection with the over Rs 12,000 crore PNB fraud case. 

The ED said on Saturday it has attached properties worth Rs 25 crore from diamond jeweller Nirav Modi in connection with its ongoing probe into the Rs12,000 crore PNB fraud case.
The Enforcement Directorate and the CBI launched fresh searches on 22 March and continued till Saturday morning, resulting in the seizure of antique jewellery jewellery worth Rs15 crore, expensive watches valued at Rs 1.4 crore and paintings valued at Rs10 crore, by top artists like Amrita Sher-Gill, ME Hussain amd KK Hebbar.
The ED also attached a diamond ring valued at Rs10 crore. 
These have been seized  under the Prevention of Money Laundering Act (PMLA).

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