The Enforcement Directorate has attached gems, jewellery and bank balances to the tune of ₹253.62 crore in the money laundering case against the fugitive Nirav Modi’s group of companies in Hong Kong.
During the probe in the case, the agency identified some of the assets in the form of gems and jewellery belonging to the Nirav Modi group of companies, lying in private vaults and the bank balances in the accounts maintained in Hong Kong. Accordingly, they were attached under the Prevention of Money Laundering Act.
The ED had earlier attached movable and immovable properties worth ₹2,396.45 crore of Nirav Modi and his associates in India and abroad. Besides, assets worth ₹1,389 crore have been confiscated under the Fugitive Economic Offenders Act by a Mumbai-based special court.
A part of the confiscated assets has already been physically handed over to the victim banks.
The agency had earlier filed two chargesheets against the accused persons. The extradition proceedings against Nirav Modi in the final stages in the United Kingdom.