The Directorate of Enforcement (ED) announced on Tuesday that it has opened 11 Nepalese properties in Nirav Modi, a fugitive diamond jeweler, in Dubai, as part of the money laundering investigation that it is conducting. conducted in the case of the Bank of Punjab (PNB).
The central polling agency indicated that the assets were in the name of "Modi and its group M / s Firestar Diamond FZE and that they had a market value of 7.79 million USD, which equates to 56.8 Rs billion ".
The ED has issued an interim order to seize these assets under the Prevention of Money Laundering (PMLA) Act.
Last month, the agency had property attached valued at 637 crore ₹ of Modi and members of his family, including two apartments located in the iconic Central Park, New York.
Agency sources said the director of emergencies would soon get numerous rogatory commissions (court applications) issued by a Mumbai court to legally formalize the seizure of these assets in coordination with his counterpart in Dubai.
Once the RLs are issued, India could freeze the foreign assets of an accused in global judicial cooperation in criminal matters, they added.
Mr Modi has been on the run since the so-called banking fraud, by far the largest in the country, was revealed earlier this year and an Interpol arrest warrant was recently issued. against him even as India employs him to extradite him from the United Kingdom, where he would have been based for the last time.
The agency has so far invested in the country assets worth more than 700 Swedish kroner. He also filed a complaint against the fugitive jeweler alleging that he had laundered and embezzled more than 6,400 crore of bank funds to dummies abroad, under his control and that of his family.
Mr. Modi, his uncle Mehul Choksi and other people are being interrogated under various criminal laws, following a PNB complaint that they defrauded the nationalized bank to the tune of more than 13,000 crore of cruel implication of some of its employees.