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Monday
November 2018
2:26 AM IST
News Headlines
Sri Lanka president Sirisena holds all-party meeting talks to end political crisis        Pankaj wins grand double, extends world title tally to 21        England win second Test against Sri Lanka by 57 runs        Smriti Mandhana becomes second-fastest Indian woman to reach 1000 T20I        It is quality of cricket rather than sledging that wins matches: Shastri on new Aussie approach        India in Australia: Kohli promises to not start arguments, only finish them        At Least Two Killed, Eight Injured In Blast In Karachi        Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report        'Gaja' crosses coast, rainfall pounds TN, 22 dead        Sabarimala board to move SC, buy time to implement order        Sabarimala board to move SC, buy time to implement order        Sindhu crashes out; Srikanth, Sameer enter quarterfinals of Hong Kong Open        No more chopping and changing till World Cup: Ravi Shastri        Air India eyes Rs 800 cr from sale of over 70 properties        Intel India opens design house costing Rs 1,100 cr at B'luru        US, China see rival visions for entwined Asia-Pacific region        Imran Khan to visit Malaysia next week; likely to seek monetary aid        EC removes Mizoram chief electoral officer after protests        Lankesh murder accused sent to SIT custody in Pansare case        Agri sector needs long-term solutions, loan waiver temporary: Naidu        
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Business News
PNB fraud: ED attaches Nirav Modi’s properties worth Rs 171 cr
 
(New Delhi, May 21, 2018):The Enforcement Directorate (ED) on Monday said that it has attached more properties of absconding diamantaire Nirav Modi worth Rs 171 crore as part of its probe in the multi-crore Punjab National Bank (PNB) fraud.

“During further investigation, more properties and bank accounts beneficially owned by Nirav Modi were unearthed. And based on the bank statements, property documents and statements recorded of the persons concerned, under sections of the Prevention of Money Laundering Act (PMLA), 2002, and the money trail derived during the course of investigation, properties worth Rs 171. 26 crore in the form of movable and immovable properties have been provisionally attached,” an ED official said in New Delhi.

The official said that the attached properties includes four commercial premises in Mumbai and Surat (with present market value worth Rs 72.87 crore), 106 bank accounts (with account balance of Rs 55.12 crore), 15 demat accounts (with Rs 35.86 crore) and 11 cars valued at Rs 4.01 crore.

The financial probe agency’s action comes after it registered a separate case against the diamond jeweller and his uncle Mehul Choksi of the Gitanjali Group for defrauding the banks to the tune of Rs 14,500 crore.

Till date, the ED has carried out searches at over 251 properties across the country and seized diamond, gold, precious and semi precious stones, pearls. The ED has also attached immovable properties belonging to Nirav Modi Group and Mehul Choksi group to the tune of Rs 7,638 crore.

The fraud was committed during 2011-17 by illegally issuing Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs). Choksi, Modi and his family fled in January around a month before the PNB filed first complaint against them about the fraud and they are still at large.


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KERALA NEWS
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 Thiruvananthapuram, OCT 27: As the number of people arrested for allegedly being involved in violent  
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INTERNATIONAL NEWS
Sri Lanka president Sirisena holds all-party meeting talks to end political crisis
 (Colombo, Nov 18, 2018):Sri Lanka’s President Maithripala Sirisena on Sunday held an all-part
At Least Two Killed, Eight Injured In Blast In Karachi
US, China see rival visions for entwined Asia-Pacific region
Imran Khan to visit Malaysia next week; likely to seek monetary aid
NATIONAL NEWS
'Gaja' crosses coast, rainfall pounds TN, 22 dead
 (Chennai, Nov17, 2018): Cyclone Gaja ripped through Nagapattinam early Friday uprooting trees
EC removes Mizoram chief electoral officer after protests
Lankesh murder accused sent to SIT custody in Pansare case
Agri sector needs long-term solutions, loan waiver temporary: Naidu
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