PNB scam Live Updates: ED freezes Rs 94 cr worth MFs, shares of Nirav Modi, Mehul Choksi group

22 February 2018, 12:08 PM
Nirav Modi - File Photo
Nirav Modi - File Photo

The enforcement directorate continued with its hard pressing action against PNB bank scam main accused Nirav Modi by seizing mutual funds, shares, and cars of the diamond merchant and his companies.

These cars include one Rolls Royce Ghost, two Mercedes Benz GL 350 CDIs, one Porsche Panamera, 3 Honda cars, one Toyota Fortuner and one Toyota Innova, reports ANI.  The body froze Nirav Modi's mutual funds and shares worth Rs 7.80 Crore and Rs 86.72 crore of those belonging to Mehul Choksi Group.

According to Times Now, after ED seized the cars, they also seized precious paintings owned by Nirav Modi which include works of Francis Souza, Amrita Sher-Gil, VS Gaitonde, Akbar Padamsee, Bharti Kher and M. F. Husain.

Modi, Choksi and others are being investigated by multiple probe agencies after it recently came to light, following a complaint by the PNB, that they allegedly cheated the nationalized bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.

The CBI and the ED have registered two FIRs each to probe the case. Both Modi and Choski are said to have left the country before criminal cases were lodged against them. 

First Published: Thursday, February 22, 2018 10:51 AM
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