ED’s Latest Action Against Nirav Modi

The ED’s latest action is aimed at tightening the noose around Nirav Modi, who has been evading Indian authorities by remaining in the United Kingdom. The fugitive businessman has been under investigation for his involvement in the PNB Bank fraud case, where he allegedly siphoned off huge sums of money using fraudulent letters of undertaking (LoUs). The ED’s investigation began following an FIR registered by the Central Bureau of Investigation (CBI) against Modi under the Indian Penal Code (IPC) and the Prevention of Corruption Act, 1988.

During its probe, the ED discovered Nirav Modi’s ownership of multiple assets, including land, buildings, and funds in bank accounts. The properties seized include immovable assets worth ₹29.75 crore, adding to the ₹2,596 crore worth of assets already attached by the ED in previous actions.

Nirav Modi’s Legal Maneuvers in the UK

Nirav Modi, currently lodged in a British jail, has been fighting extradition to India for several years. Earlier this year, he filed for bail in a UK court, but his application was rejected for the seventh time. Modi had also appealed the bail decision in the UK High Court but later withdrew the appeal. His attempts to avoid legal consequences in India have been ongoing, but the Indian government remains determined to bring him back.

Ongoing Efforts to Extradite Nirav Modi

The Indian government has been actively pursuing Nirav Modi’s extradition to hold him accountable for his involvement in the PNB scam. The government has officially appealed to the British authorities to extradite Modi, enabling him to face charges under Indian law. Despite his resistance, India continues to push for his return to ensure justice is served.

What’s Next?

The ED’s latest asset seizure marks a crucial step in the ongoing investigation, but the full recovery of assets and justice for the PNB scam victims remains a work in progress. As Nirav Modi’s legal options dwindle, the focus shifts to the UK government’s decision regarding his extradition to India.

Further investigation into the scam is still underway, and more assets linked to Nirav Modi could be identified and seized in the coming months. The Indian authorities remain steadfast in their pursuit of justice, as the world watches how this high-profile case unfolds.

The post Enforcement Directorate Seizes ₹29.75 Crore Worth of Nirav Modi’s Assets Amid Ongoing PNB Scam Investigation appeared first on Vizag One.