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PNB scam: 176 almirahs, all full of watches

ED raids godown stocked with Nirav Modi’s imported timepieces, seize accounts

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The ED raids in Mumbai that led to the seizure of imported watches
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As part of the ongoing investigation against diamantiare Nirav Modi in the still-unravelling PNB scam, the Enforcement

Directorate on Friday froze bank accounts and shares of Modi's company worth Rs 43 crore and have also raided his premises from where they recovered several boxes, cupboards, and containers full of imported watches.

Meanwhile, the ED has approached the court seeking the process required to issue a Letter Rogatory (LR) to attach Modi's international properties.

The frozen shares have been valued at Rs 14.86 crore and the bank accounts Rs 30 crore. According to ED officials, they had received a tip-off about the premises during the investigation, following which, they raided the premises on Thursday night. In it, they found a large quantity of imported watches stacked in 176 steel almirahs, 158 corrugated boxes and 60 plastic containers. The watches have been seized and the individual valuation of the watches has been started.

"We had received information that a huge collection of imported watches was stored at a godown in Mumbai so we raided the place and seized the items," said an ED official.

So far, the agency has raided all the stores and houses of Modi and Choksi and seized items including jewelry, diamonds, and gems worth over Rs 5,870 crore.

On Thursday the central agency had seized nine cars, including one Rolls Royce Ghost, two Mercedes Benz, one Porsche Panamera, 3 Honda cars, one Toyota Fortuner and one Toyota Innova.

RAID RAKES IN

  • The frozen shares have been valued at Rs 14.86 crore and the bank accounts Rs 30 crore
     
  • They also found a large quantity of imported watches stacked in 176 steel almirahs, 158 corrugated boxes and 60 plastic containers
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