ED attaches assets valued at Rs. 218 crore of Mehul Choksi, others in PNB fraud case
New Delhi, Oct 13 (IBNS) :The Enforcement Directorate (ED) on Wednesday attached assets worth over ₹218 crore in the nearly ₹13,000 crore PNB loan fraud case probe, media reports quoted officials as saying.
The assets belong to fugitive diamantaire Mehul Choksi, Mihir Bhansali, a close aide and US-based executive of main accused in the case Nirav Modi, and a company named AP Gems and Jewellery Park.
Officials said three provisional orders under the Prevention of Money Laundering Act (PMLA) were issued by the central investigative agency’s zonal office in Mumbai for attachment of the properties in India and abroad.
The total value of the attached and seized assets is ₹218.46 crore, they said.
The ED is probing this case along with the CBI where it is alleged that Nirav Modi and Choksi defrauded the Brady House branch of the Punjab National Bank (PNB) in Mumbai to the tune of about ₹2 billion (over ₹13,000 crore) in alleged connivance with officials.
Mehul Choksi, who, along with nephew Nirav Modi, fled India in January. The businessman was granted citizenship of Antigua and Barbuda last year and he took the oath of allegiance to that country on January 15.
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