Antique Jewels, MF Hussain Paintings Seized From Nirav Modi's Mumbai Home

Antique Jewels, MF Hussain Paintings Seized From Nirav Modi's Mumbai Home

Raids were conducted at PNB scam accused Nirav Modi's Mumbai home

Mumbai: Antique jewellery, high-end watches and exclusive paintings worth crores were seized in searches at Mumbai home of celebrity jeweller Nirav Modi, key accused in Rs 14,500 crore Punjab National Bank scam.

A joint team of Enforcement Directorate and the Central Bureau of Investigation carried out searches from Thursday to early this morning at the absconding jeweller Nirav Modi's palatial 'Samudra Mahal' residence in Mumbai in which property worth over Rs. 36 crore were seized, an official said.

The items seized included Rs. 10-crore diamond ring, antique jewellery worth Rs. 15 crore, high-end watches valued at Rs. 1.40 crore, Rs. 10 crore-worth paintings by renowned artists including M.F. Hussain, K.K. Hebbar and Amrita Shergil.

Nirav Modi along with his family and uncle Mehul Choksi, another accused in the scam, flew out of India on 1 January, 14 days before the state-owned PNB disclosed the massive fraud at one of its Mumbai branch.

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The searches were being conducted as part of a money trail by the ED and CBI after cases were registered against Nirav Modi and Choksi of the Gitanjali Group for defrauding the banks.

So far, the ED has carried out searches at some 251 properties across the country and seized diamond, gold, pearls, precious and semi-precious stones.

The ED has also claimed to have attached immovable properties belonging to their business groups to the tune of Rs. 7,638 crore.