In a major move the Enforcement Directorate has provisionally attached assets worth nearly Rs 170 crore belonging to Nirav Modi in connection with the PNB fraud case. The action was taken under the provisions of the Prevention of Money Laundering Act. This action would now have to be confirmed by the adjudicating authority.
The Enforcement Directorate has found prima facie evidence to suggest that the Popular Front of India was involved in money laundering. Based on a case registered by the National Investigation Agency, the ED filed a case under the Prevention of Money Laundering Act against the PFI, which has a strong presence in Kerala and Karnataka.
New Delhi: Karti Chidambaram has been granted anticipatory bail by a special CBI court in Delhi. The court was hearing an application seeking arrest from arrest by the ED, which was filed by Karti in the Aircel-Maxis case.
The court while delivering the verdict directed Karti to cooperate with the investigation and also said that he shall be available for questioning when the ED seeks it.
The Enforcement Directorate has accused Nirav Modi of an indirect challenge in the money laundering case filed against him. Modi an accused in the Rs 12,000 crore PNB fraud case is using his company, Firestar Diamonds, to “abuse the process of law” and indirectly challenge the case by moving the plea through his firm, the ED told the Delhi High Court.
The Enforcement Directorate has filed an appeal in connection with the 2G case. The ED appealed against the order of the trial court which had acquitted all the accused in the case.
The Enforcement Directorate has moved the Interpol for issuance of a red corner notice against Nirav Modi and Mehul Choksi, the two prime accused in the PNB scam.
The Delhi High Court has granted interim protection to Karti Chidambaram from arrest by the Enforcement Directorate till March 20. The relief was granted till the next date of hearing and the court also issued notices to the Centre and the Enforcement Directorate returnable by March 20.
The Enforcement Directorate is set to send at least a dozen requests in a bid to obtain information about the overseas businesses and assets belonging to Nirav Modi and Mehul Choksi in connection with the PNB scam.
The probe by the Enforcement Directorate has revealed that an additional Rs 3,000 crore was lent by 17 banks to many companies belonging to Nirav Modi. Even as the raids continued, the ED registered another case against Nirav and his uncle’s company, Gitanjali Gems.
During the searches that were conducted in 21 locations in connection with the PNB fraud case, the Enforcement Directorate (ED) has seized Rs 25 crore. This is in addition to the previous seizures of Rs 5,649 crore.