ED attaches Mehul Choksi's property in Thailand worth Rs 13 cr
Source :NewsBharati   Date :05-Jan-2019

New Delhi, Jan 5: Enforcement Directorate (ED) has said that it has attached a factory in Thailand worth 13 crore rupees belonging to the absconding diamond jeweller #MehulChoksi. The agency said it has issued a provisional order for attachment, under the Prevention of Money Laundering Act. Mehul Choksi, his nephew and diamond jeweller Nirav Modi are being probed cheating Punjab National Bank to the tune of 13,000 crore rupees.

After gathering concrete evidence of ownership it has been attached, said ED in its statement. With the attachment of this property, the value of seizures in the PNB scam works out to around Rs 4,765 crore. The value of the property is Rs 13.14 crore, it added.

Under the Prevention of Money Laundering Act (PMLA), ED is investigating this case. Officials said ED investigators will soon move for issuing Letters Rogatories (judicial requests) for a legal formalisation of the attachment of the asset in Thailand.

Choksi, his nephew and diamond jeweller Nirav Modi, and others are being probed under fraud came into light.

In March 2018, a special PMLA court issued non-bailable arrest warrants (NBWs) against Choksi, and his nephews Nirav Modi and Neeshal Deepak Modi, owner of Firestar Diamonds.

A designated PMLA authority held that 41 properties worth about Rs 1,210 crore, attached by the Enforcement Directorate (ED) in the name of Mehul Choksi and his associated firms, are money laundering assets and ordered that their attachment should continue.

The central probe agency provisionally attached 15 flats and 17 office premises in Mumbai, a mall in Kolkata, a four-acre farmhouse in Alibaug and 231 acres of land at locations like Nashik, Nagpur, Panvel in Maharashtra and Villupuram in Tamil Nadu, in February 2018 under the Prevention of Money Laundering Act (PMLA) in connection with the about USD 2 billion alleged fraud at a Mumbai-based branch of the Punjab National Bank (PNB).