PNB fraud: ED seizes huge collection of imported watches, freezes Nirav Modi group’s deposits, shares worth Rs 44 cr
Mumbai, Feb 23 (IBNS) : In another move against diamond merchant Nirav Modi, the prime accused in the PNB fraud case, the Enforcement Directorate (ED) on Friday froze one of his bank accounts with Rs. 30 crore balance and shares worth Rs. 13.86 crore held by one of his companies, media reports said.
Acting on a tip-off, ED officials also recovered a huge quantity of imported watches stacked in 176 steel almirahs, 158 corrugated boxes and 60 plastic containers containing imported watches.
During investigations on Thursday, ED had frozen share and mutual funds worth Rs 94.52 crore of the Nirav Modi and Mehul Choksi groups. They had also seized nine luxury cars, including Rolls Royce Ghost, Porsche Panamera and Mercedes Benz belonging to Modi.
The total worth of the properties belonging to Modi and Choksi that have been seized or frozen is now more than Rs. 138 crore.
According to reports, the evaluation of several paintings found in Samudra Mahal premises in Worli belonging to Modi is being carried out by experts.
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