PNB loan fraud: Nirav Modi’s sister, her husband turn approvers
New Delhi/Mumbai: The Enforcement Directorate (ED) on Thursday said that fugitive diamantaire Nirav Modi’s sister Purvi Modi, a Belgian national, and her husband Maiank Mehta have turned approvers in the Rs 13,500-crore PNB loan fraud case.
An ED official in Delhi said that both became approvers for assisting the agency in the confiscation of two flats in New York in the US, and one each in London and Mumbai, and the balance lying in two Swiss bank accounts and a bank account in Mumbai, totalling Rs 579 crore, in the Punjab National Bank (PNB) fraud case.
The ED said that confiscated properties of Nirav Modi include a flat worth Rs 19.5 crore on Breach Candy Bhulabhai Desai Road of Mumbai, a flat valued at Rs 36.52 crore in Central Park South, New York in the name of a Trust, another flat in Central Park South, Unit No 33, New York, in the name of a Trust valued at Rs 182.82 crore, an amount of Rs 168.08 crore in a Swiss Bank account of Purvi, a Swiss bank account in the name of Purvi with Rs 108.23 crore balance, a flat worth Rs 62.1 on Marylebone Road in London and Rs 1.96 crore in an Indian bank account in Mumbai in the name of Purvi.
The ED in a statement said that Purvi and her husband filed an application before the Special (PMLA) Court in Mumbai for allowing them to seek pardon and also undertook to make true and full disclosure of the circumstances and events without concealing any evidence and provide complete documents.
The ED had earlier filed a chargesheet against Purvi, Maiank Mehta and others in connection with the fraud case.
The ED said that during investigation it was revealed that Purvi has more than a dozen bank accounts and has ownership of various companies/Trusts abroad.
The ED said that in their statements and their submissions before the Adjudicating Authority, Purvi and Maiank Mehta have categorically stated that all the companies, properties and accounts mentioned in the charge sheet except Pavillion Point Corporation belong to Nirav Modi.
It said that she also expressed her willingness to offer all cooperation to repatriate the assets to India.
“Both of the accused stated that the funds channelized through their accounts belonged to Nirav Modi and was done on Nirav Modi’s insistence,” it said.
The ED had said in July last year that the Singapore High Court had ordered a freeze on a bank account with Rs 44 crore related to Purvi and her husband.
In June last year, the ED had attached four bank accounts of Nirav Modi and Purvi, having a balance of Rs 283 crore, as part of its investigation into the case.
Interpol had issued a Red Corner Notice against Purvi in 2019.
Nirav Modi and his uncle Mehul Choksi are under investigation by both the CBI and the ED. Choksi is now believed to be in Antigua.
Meanwhile, a UK court had scheduled a hearing on the closing arguments in the extradition case of Nirav Modi on January 7 and 8.
Nirav Modi has been behind bars at Wandsworth Prison in south-west London since his arrest last year following India’s extradition request.