A day after seizing Nirav Modi's luxury cars, the Enforcement Directorate today seized imported watches and froze bank deposits and shares worth about Rs 44 crore of the diamantaire.
Bank accounts with Rs 30 crore balance and shares worth Rs 13.86 crore belonging to Nirav Modi and his company were also frozen, the agency announced on Twitter. The ED also seized “huge quantity” of imported watches stacked in 176 steel almirahs, 58 corrugated boxes, and 60 plastic containers.
ED freezes Rs 30 crore in bank accounts & shares worth Rs 13.86 crore held in a Nirav Modi Company. Acting on a tip off, ED also recovers huge quantity of imported watches stacked in 176 steel almirahs, 158 corrugated boxes & 60 plastic containers. pic.twitter.com/jg9IQLQuy4
Yesterday, the investigating agency had seized deposits, shares and luxury cars worth over Rs 100 crore from the businessman and his group. Investigating agencies are probing Modi and his uncle Mehul Choksi's role in the Rs 11,400 crore fraud involving loans granted on fraudulent guarantees in the name of PNB.
Also Read: Government Said To Ask PNB To Pay For Fraud Liabilities
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