The South Asian Times

24 March 2018 19:33 PM

HC seeks ED response in Nirav Modi case


New Delhi, March 7: The Delhi High Court on Wednesday asked the Enforcement Directorate (ED) to file a response on a plea filed by Nirav Modi's firm Firestar Diamond against the probe agency proceedings in the multi-crore-rupee Punjab National Bank (PNB) fraud case.

A bench of Justice S. Muralidhar and Justice I.S. Mehta directed the ED to file details including the sequence of events related to the case and listed the matter for March 19 for further hearing.

The court said that right now it has not much details of the case and firm's counsel also did not have more details of the case.

The bench, however, refused to stay ED's probe and seizure of Nirav Modi firm's assets.

Nirav Modi's firm Firestar Diamond on Tuesday moved the court seeking quashing of seizing of movable properties of Nirav Modi and depositing them with the PNB.

It also sought a copy of the search warrant and other documents related to searches and seizures by the ED.

The ED has so far seized properties worth Rs 6,000 crore of Nirav Modi and his uncle Mehul Choksi of Gitanjali Group.

Diamond jeweller Nirav Modi and his uncle Mehul Choksi have been accused of defrauding the PNB of Rs 12,600 crore, with Rs 1,300 crore being added to the fraud kitty on February 26.

Update: 07 March, 2018