ED, CBI raid Nirav Modi’s ‘Samudra Mahal’, seize items worth Rs 26 crore

The seized items include a lone diamond ring valued at Rs 10 crore.

The Hush Post: A joint team of the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) raided ‘Samudra Mahal’, the residence of multi-crore PNB fraud accused, Nirav Modi, in Mumbai. Jewellery, watches and paintings worth Rs 26 crore were seized during the raid which started on Thursday and ended Saturday morning.

The seized items include a lone diamond ring valued at Rs 10 crore. Besides, an exquisite range of paintings done by the likes of MF Hussain, KK Hebbar and Amrita Sher-Gil worth Rs. 10 crore was also secured by the sleuths.

Nirav Modi, along with his uncle and and Gitanjali Gems promoter Mehul Choksi are accused of the over Rs 12,000 crore Punjab National Bank fraud. The ED has registered two money laundering FIRs against the duo.

The ED has raided 251 properties throughout the country in connection with the case and has seized and attached assets worth Rs 7,638 crore, including diamond, gold, precious and semi-precious stones, and other movable and immovable assets.

The two diamantaires had fled India before the PNB disclosed the fraud and haven’t appeared before the probe agencies despite repeated summons.



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