Highlights
- PNB to ‘capture’ properties worth Rs 500 crore of Nirav Modi’s companies
- A special court in Mumbai has ordered in this matter on Friday.
- This is the third such order by the court in a period of almost two weeks.
A special court in Mumbai on Friday allowed Punjab National Bank to ‘capture’ properties worth Rs 500 crore of Nirav Modi’s companies. This is the third such order in a period of almost two weeks. Earlier, similar possession of properties worth about Rs 1,000 crore owned by Nirav Modi’s companies has been given.
Nirav Modi was declared a ‘Fugitive Economic Offender’ in December 2019. His relative Mehul Choksi is accused of committing a loan fraud of Rs 14,000 crore with PNB.
The Enforcement Directorate has attached several properties of both of them. Nirav Modi is currently in a UK prison and is facing an extradition trial to India.
Nirav Modi (file photo)
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