Nirav Modi’s Rolls-Royce Ghost, Porsche Panamera Seized
CBI interrogates three PNB officials in Nirav Modi fraud case.
A Rolls-Royce Ghost and a Porsche Panamera were among billionaire jeweller Nirav Modi’s cars that the Enforcement Directorate seized in the Rs 11,400-crore financial fraud at the Punjab National Bank.
Other seized cars include two Mercedes-Benz vehicles, three Hondas, one Toyota Fortuner, and an Innova, according to the Enforcement Directorate tweets. It also seized Mehul Choksi’s Gitanjali mutual funds and shares worth Rs 86.72 crore Modi’s Rs 7.8 crore.
The total amount of all assets attached in today’s search and seizure is estimated at around Rs 100 crore, an officer at the investigating agency told BloombergQuint.
The Income Tax Department attached property worth Rs 1,200 crore of the Gitanjali Group located in the Special Economic Zone in Hyderabad, newswire PTI reported.
Investigating agencies are probing Modi and Choksi’s role in the Rs 11,400 crore fraud involving loans granted on fraudulent guarantees in the name of PNB.
Modi, already out of India, has been summoned to appear before the investigating agency on Feb. 26 after he didn’t turn up today, PTI reported. Modi has communicated to the agency that the temporary suspension of his passport and pending business issues are the reasons for not appearing before it, the report said.
Meanwhile, the Central Bureau of Investigation said it interrogated three deputy general managers of PNB in connection with the fraud.