The British daily Telegraph reported that billionaire diamond tycoon, accused in the USD 2 billion PNB fraud case, has been tracked down by it to an 8 million pound apartment in London's West End.
Absconding diamantaire Nirav Modi, who is a prime accused in the Rs 14,000-crore Punjab National Bank (PNB) fraud, has been spotted in London.
The senior IAS official had issued the demolition orders after the Enforcement Directorate (ED) handed over the property situated in Raigad district, over 90 km from Mumbai.
PNB, which which was involved in a Rs 14,356-crore scam by Nirav Modi, had reported net profit of Rs 230.11 crore for the corresponding quarter a year ago.
Demolition of Nirav Modi's Alibaug mansion begins after Bombay HC order
Modi, a key accused in the USD 2 billion Punjab National Bank fraud case along with his uncle and promoter of Gitanjali Gems Mehul Choksi, has fled the country.
The Bombay High Court on Monday questioned the Enforcement Directorate's (ED) request to stay the demolition order for fugitive jeweller Nirav Modi's illegal bungalow at Alibaug in the adjoining Raigad district.
Fugitive diamond merchant Nirav Modi, a prime accused in the PNB fraud case, told a court here on Saturday that Punjab National Bank gave "colour of criminality" to "usual civil banking transactions" to hide its own poor performance.
The British authorities have told Indian agencies that Nirav Modi has been living in the UK since sneaking out of India after the bank fraud came to light in 2018.
British authorities have informed India that bank fraud fugitive Nirav Modi is living in the UK, the government has said.
The notice was issued following a request by the Central Bureau of Investigation (CBI) which is probing the Rs 12,000 PNB scam along with other agencies.
The Punjab National Bank had admitted to a massive fraud, which later climbed up to around Rs 13,600 crore, shaking the foundations of the Indian banking sector.
As per the petition, such constructions had been carried out in violation of the Maharashtra Coastal Zone Management Authority rules and the state's land laws.
Unlike liquor baron Vijay Mallya, who is accused of a loan default of over Rs 9000 crore, Modi had no Non-Performing Assets (NPAs) when he left the country, his lawyer argued.
The case in the Surat Court was filed by Deputy Customs Commissioner R. K. Tiwary against Nirav Modi and three of his firms -- Firestar Diamond International Pvt Ltd, Firestar International Pvt Ltd, and Radashir Jewellery Co Pvt Ltd.
The central probe agency said the assets were in the name of "Modi and his group company M/s Firestar Diamond FZE and they bear a market value of USD 7.79 million, which is equivalent to Rs 56.8 crore".
Choksi and his nephew Nirav Modi are wanted by the ED and the Central Bureau of Investigation (CBI) for allegedly defrauding the PNB to the tune of Rs 13,400 crore apparently in collusion with few of its employees.
The agency said that it has issued a provisional order under the Prevention and Money Laundering Act (PMLA) for attachment of the assets.
ED seizes worth Rs 220 crore property of PNB bank scam accused Nirav Modi and Mehul Choksi
Nirav Modi and Choksi defrauded the Brady House branch of the Punjab National Bank (PNB) in Mumbai to the tune of over Rs 13,000 crore) in alleged connivance with officials.
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