The Enforcement Directorate searched residences of Nirav Modi in Mumbai. The searches, beginning on Friday were conducted in a 15.45 crore flat and an 81 crore penthouse in Worli’s sea-facing Samudra Mahal apartments. The properties were attached by ED previously in February. They were among the 21 immovable properties attached by them with a total worth of 523 crores.
ED seized several paintings, antique jewellery and expensive watches in this search.
ED searches Nirav Modi’s Samudra Mahal & seizes high end/ antique jewellery worth Rs 15 crore , watches worth Rs 1.40 crore & paintings of Hussain, Hebbar, Amrita Shergil worth Rs 10 Crore. Total attachment & seizures made till now is worth Rs 7664 Crore. pic.twitter.com/tIW0cYyrpZ
— ED (@dir_ed) March 24, 2018
The total worth of assets seized by ED, in this case, has now become 7664 crores with the latest seize. Nirav Modi has been leading an ultra luxurious lifestyle and the value of items seized are often in crores.
In the recent search, a single ring was reported to be worth 10 crores.
3-day-long searches were conducted by CBI & ED at residential premises of #Nirav Modi at Samudra Mahal in Mumbai’s Worli, starting from Fri. Antique jewellery & paintings worth crores of rupees were recovered. Watch valued at Rs 1.40 cr & ring valued at Rs 10 cr were also seized pic.twitter.com/P6CnDt0aL7
— ANI (@ANI) March 24, 2018
In earlier instances too the ED had found steel almirahs full of expensive watches and a fleet of luxury cars in Nirav Modi’s residential properties.
The 21 properties included 135 acres of land, a solar power plant and a farmhouse in Alibaug along with several other residential and business dwellings.
The ED has taken swift action after the 12,000 crores PNB scam was unearthed and it has also seized gems, gold and diamonds from Nirav Modi’s several business outlets across the country. The investigation agency has frozen his bank deposits and shares. They have also initiated the process of seizing his overseas assets. Nirav Modi is still absconding.
