PNB fraud case LIVE updates: Four of the nine cars seized by the ED on Thursday
PNB fraud case LIVE Updates: Four of the nine cars seized by the ED on Thursday
Punjab National Bank issued a clarification to the stock exchanges on Thursday assuring that the bank had pursued all legal options available to recover the money that was due. The bank’s response came after Nirav Modi wrote a letter to the bank saying that since the matter has become public all available options to recover the dues are now closed.
The Enforcement Directorate on Thursday froze shares and mutual funds worth Rs 100 crore of millionaire diamond jeweller Nirav Modi and promoter of Gitanjali Group Mehul Choksi in connection with the Rs 11,400 crore Punjab National Bank fraud case. At least nine luxury cars, belonging to Modi, were also seized as part of the investigation under the Prevention of Money Laundering Act (PMLA).
The cars seized include a Rolls Royce Ghost, a Mercedes Benz, a Porsche Panamera, three Honda variants, a Toyota Fortuner and an Innova. READ MORE
Earlier on Wednesday, the Income Tax (IT) department attached Rs. 145.74 crore found in several bank accounts belonging to Modi. Till date, the IT department has attached a total of 141 bank accounts / Fixed Deposits of the group.
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