ED Seized Nirav Modi's assets worth Rs 253 cr in Hong Kong

Nirav Modi
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Nirav Modi (File/Photo)

Highlights

Enforcement Directorate on Friday has taken major action against diamond trader Nirav Modi, who fled from banks by fraud.

New Delhi: Enforcement Directorate on Friday has taken major action against diamond trader Nirav Modi, who fled from banks by fraud. The agency has attached assets worth Rs 253.62 crore of Nirav Modi in Hong Kong. This line includes diamonds, jewellery and bank deposits.

The agency says that in the case of fraud on behalf of Nirav Modi, assets worth Rs 2650.07 crore have been attached so far. Nirav Modi, who has cheated many financial institutions including Punjab National Bank, is currently living in Britain. Efforts have also been made by the government for his extradition, but so far no concrete success has been achieved.

In the last week of June itself, another objection has been lodged in the matter of his extradition. The court has now decided to hear the matter in October. It is clear from this that the matter of extradition of Nirav Modi has become more complicated. Nirav Modi's lawyer told the court that if he is extradited, he may commit suicide. In that case it would be wrong to extradite him. Not only this, Nirav Modi says that he will have to live in very bad condition in the jails of India. At the same time, this action of ED has definitely tightened the noose on Nirav Modi.

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