The special Central Bureau of Investigation (CBI) court allowed the agency to freeze the secret bank account of diamond merchant Nirav Modi in Barclays Bank with deposits of over ₹ 9 crores.
On April 7, the special court had issued non bailable warrants against absconding Mr Nirav Modi and his uncle Mehul Choksi, accused of defrauding Punjab National Bank (PNB), the country’s second largest lender, of over ₹ 13,500 crore.
On March 31, 2018, the agency had moved court seeking permission to freeze the account as a part of “forfeiting of property in a foreign land.”
On March 28, 2018, the Mumbai Income Tax Department had traced a secret account belonging to Mr Modi and Mr Choksi. The account is opened in the name of Modi Ltd, one of the firms that created by Mr Modi.
On February 24, 2018, the Enforcement Directorate had attached Mr Modi’s group property worth ₹523 crores and on March 24, the agency had seized valuables of ₹ 36 crores. It included – a diamond ring worth ₹ 10-crores, antique jewellery worth of ₹15 crore, high-end watches of ₹1.40 crores and paintings by renowned artists including M.F. Hussain, K.K. Hebbar and Amrita Shergil that cost ₹ 10 crores.
