Media Eye News Bureau: The Enforcement Directorate (ED) said it has frozen Nirav Modi and Mehul Choksi groups’ shares, deposits and luxury cars worth over Rs. 100 crore in probe against them in the PNB fraud. Income Tax Department officials said property worth Rs. 1,200 crore of Gitanjali Group located in Special Economic Zone (SEZ) in Hyderabad has been attached as well.
According to agency officials Nirav Modi failed to depose before the ED after summons were issued to him. The officials shared that he has been asked to appear before the ED in Mumbai on February 26.
PNB asked Nirav Modi to come up with a concrete plan to settle the loss due to the fraudulent issuance of Letter of Undertakings (LoU).
The officials shared that the total seizure in the case currently stands at Rs 5,826 crore.
