Top Ad 728x90

Thursday, 18 October 2018

,

Enforcement Directorate seized property worth 218 crore from PNB loan fraud accused Mehul Choksi

Enforcement Directorate seized property worth 218 crore from PNB loan fraud accused Mehul Choksi



Enforcement Directorate (ED) has seized properties worth Rs 218 crore from Mehul Choksi and other accused in the two-billion-dollar loan fraud case of Punjab National Bank. Earlier, ED had seized property worth Rs 637 crore of Nirav Modi, his brother and others. These properties are located in India and four other countries.

The ED has taken this action after he did not appeared in the PMLA court. The court has issued non-bailable warrant against the chief accused of the scam, Nirav Modi and his uncle, Mehul Choksi.

Among the property which was seized from Nirav Modi under the Prevention of Money Laundering Act (PMLA Act), includes 5 foreign bank accounts (total amount of Rs 278 crore), jewelery recovered from Hong Kong (Rs 22.69 crore) and a flat worth Rs 19.5 crore located in South Mumbai. Apart from this, ED also seized two assets worth Rs 216 crore in New York. ED acted under section 5 of PMLA Act.

Share this post

0 comments:

Post a Comment

Top Ad 728x90