modi-choksi: 144 firms tied to Modi-Choksi under ED lens for laundering
MUMBAI: The Enforcement Directorate (ED) is investigating the transactions of round 144 “suspicious firms” related to diamond service provider Nirav Modi and his uncle Mehul Choksi to verify if that they had used these corporations to launder cash by way of the international direct funding (FDI) methodology.
In one other improvement, the ED seized a whole bunch of pricy watches from a warehouse related to Nirav Modi on Thursday and initiated the method of inspecting costly objects, together with artwork works, in his 4 flats in Samudra Mahal constructing in Worli. The ED additionally froze a checking account with a stability of Rs 30 crore in Modi’s identify and shares price Rs 14 crore in numerous firms in the middle of its probe into the Rs 11,300 crore PNB rip-off.
The company is making an attempt to determine Modi’s movable and immovable belongings throughout the nation, and of his associates, for attachment. Thus far, the company has seized jewelry and different valuables claimed to be price about Rs 6,000 crore.
On Thursday, the ED obtained particular info from an informant who instructed them that costly watches price crores had been mendacity in a Ghatkopar godown that belonged to Modi.
Officers raided the premises and recovered the watches packed in packing containers. An official mentioned they’re but to look at the worth of the wristwatches, although, in line with preliminary estimates, they’re price crores of rupees.
ED officers additionally learnt that Modi had “4 flats, and never six”, in Samudra Mahal constructing. Three of those flats had been transformed into duplexes which he had bought from an industrialist in 2006. The fourth flat was bought from a belief related to a Congress chief from Madhya Pradesh who owns some extra flats within the constructing.
Officers measured the flat space and said that the overall value of the 4 flats might be “round Rs 125 crore”. On Wednesday, that they had seized 9 autos belonging to Nirav Modi’s household that had been parked within the Samudra Mahal car parking zone.