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Nirav Modi case: ED recovers Rs 17 crore from approver sister’s UK bank account

The ED, in a statement, said the money did not belong to Purvi — who has turned an approver — and that Nirav Modi was operating the account

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The Enforcement Directorate (ED) on 1 July said it had recovered Rs 17.25 crore from an account in the United Kingdom belonging to Purvi Modi which was opened by fugitive diamond jeweller Nirav Modi.

Purvi Modi, the sister of Nirav Modi who has turned an approver in the money laundering case against him, had informed the ED about the account. The ED, in a statement, said the money did not belong to Purvi and the account was being operated by Nirav Modi.

Modi and his uncle Mehul Choksi are accused of routing transactions of about Rs 13,600 crore through fraudulent Letters of Undertaking (LoUs) of Punjab National Bank (PNB). Both are being investigated under the Prevention of Money Laundering Act (PMLA).

Modi left India in the first week of January 2018 before the PNB became public. In March 2019, Modi was arrested in the and is currently lodged at Wandsworth prison in London. He has lost his extradition plea to India in connection with the alleged $ 2 billion loan fraud at the Brady House branch of PNB in Mumbai.

In his ruling in February, Judge Sam Goozee had concluded that the diamond merchant had a case to answer before the Indian courts and that the bars to extradition under law did not apply in his case. As part of a very comprehensive judgment, the judge concluded that he was satisfied that there was evidence upon which Nirav Modi could be convicted in relation to the conspiracy to defraud PNB.

So far, the ED has seized assets worth Rs 2,400 crore belonging to Modi in India and abroad.

Earlier this week, Modi moved the for an oral hearing with a renewed “leave to appeal” application for a judge to determine if it can proceed to a full appeal hearing against the extradition ordered by a lower court.

In April, the UK government approved the extradition of Modi to India following a court’s February order that ordered Modi’s extradition holding that the evidence against him was prima facie sufficient to order his extradition to India, to face charges.

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