Pune, July 6: The Debt Recovery Tribunal (DRT) of Pune on Saturday passed an order asking Nirav Modi and his aides to repay the amount to the tune of Rs 7300 crore with interest to Punjab National Bank (PNB). With this, more problems have risen for fugitive diamantaire, lodged in a British jail.
The latest order comes days after the Singapore High Court on Tuesday ordered the freezing of Rs 44.41 crore in an account controlled by the jeweller's kin. The order in India's favour was issued by the bench based on the request of Enforcement Directorate. The company - Pavilion Point Corporation - is jointly owned by Mayank Mehta and Purvi Mehta, the respective brother-in-law and sister of Nirav Modi. Nirav Modi Nailed: Singapore High Court Orders Freezing of Rs 44.41 Crore in His Kin's Account on ED's Request
Earlier, four Swiss bank accounts of the economic offender in the multi-billion dollar Punjab National Bank (PNB) were seized last week and Swiss government also froze accounts of Modi’s wife Purvi, which amounts to six million dollars.
The fugitive economic offender was arrested in London on March 19, since then he is in judicial custody. Meanwhile, on February 26, the Enforcement Directorate (ED) attached Rs 147 crore properties of Modi. He is the main accused in Rs 13,000 crore PNB scam. Modi’s brother and wife were also named as accused in the FIR. He allegedly duped the state-run PNB through fraudulent issuance of Letters of Undertakings (LoUs) and Foreign Letters of Credit (FLCs).
With Inputs from Agencies