While the agency had earlier seized gems, diamonds, jewellery, shares, bank deposits and costly cars in this case since it registered a criminal case under PMLA on February 14, this is the first major action to seize immovable assets.
Speaking on the scam for the second time this week, he said employees conniving with fraudsters is worrisome. Also worrisome is that no red flag was raised. Regulators should have a "third eye" open to detect and check such frauds.
"I will face my destiny and I know I have done nothing wrong and ultimately the truth shall prevail," Choksi said in a letter to his employees, released by his lawyer Sanjay Abbot.
This comes days after diamond billionaire Nirav Modi and his relative Gitanjali Group chief Mehul Choksi were booked for allegedly defrauding Punjab National Bank of Rs 11,400 crore.
Without naming either the alleged kingpin of the fraud, Nirav Modi, or PNB, PM said the management of financial institutions, auditors and regulators should perform their duty with full dedication.
Nitin Gadkari's assertion comes in the backdrop of speculation that he may be sent back to Maharashtra as Chief Minister, replacing incumbent Devendra Fadnavis.
In the light of recent allegations, Priyanka Chopra has chosen to terminate her contract with the Nirav Modi brand.
The central probe agency today also froze shares of Rs 13.86 crore value from a company belonging to Nirav Modi, alongwith 176 steel almirahs and 60 plastic containers containing imported watches.
Nirav Modi, the billionaire diamond king under the scanner of various investigating agencies, failed to depose before the ED after summons were issued to him.
Earlier on Thursday, the ED said it has frozen shares, deposits and luxury cars worth over Rs 100 crore of the Nirav Modi and Mehul Choksi.
External Affairs Ministry spokesperson Raveesh Kumar said that with the receipt of the notification, Modi is bound to reply within a stipulated time to the notice and the charges that have been explained to him.
Nirav Modi in his letter to the bank had said that the over-zealousness on the part of the bank to deal with the issue destroyed his jewellery brand and also jeopardised his ability to clear the dues.
The investigative agency has also frozen mutual funds and shares worth Rs 94.52 crore of Nirav Modi and Mehul Choksi groups.
The J&K Bank had in third quarter ending December 31, 2017 reported a net profit of Rs 72.47 crore. However, the Srinagar-based bank’s net NPAs narrowed to Rs 2,487.6 crore in the quarter as against Rs 2,699.14 crore a year earlier.
Sources also told India TV that Nirav’s maternal uncle and his business partner Mehul Choksi is in Dubai. He is staying in Emirates Hills -- a gated community located in Dubai.
Rajesh Jindal, who was holding the charge of Mumbai-based PNB's Brady House branch between August 2009 and May 2011, was arrested on Tuesday night after daylong questioning in Mumbai.
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