The Enforcement Directorate (ED) has attached new assets worth Rs 29.75 crore belonging to fugitive diamond trader Nirav Modi under the Prevention of Money Laundering Act (PMLA).
This attachment includes bank deposits, land, and buildings.
Modi, currently imprisoned in the UK, faces allegations in a $2 billion fraud case involving Punjab National Bank (PNB). Over the past five years, the ED has seized assets totaling Rs 2,596 crore related to this case.
Modi and his uncle, Mehul Choksi, are accused of defrauding PNB by issuing fraudulent Letters of Undertaking (LoUs) with the help of bank officials.
Modi was declared a fugitive economic offender in December 2019 and was arrested in London the same year.
