NEW DELHI: The Singapore high court on Tuesday froze the bank accounts of Nirav Modi’s sister Purvi Modi Mehta, spelling greater trouble for the prime accused in the ₹14,356 crore Punjab National Bank (PNB) scam. “The Singapore high court has ordered freezing of $6.122 million ( ₹44.41 crore) in the bank account maintained in Singapore by Pavilion Point Corporation, British Virgin Island, a company beneficially owned by Maiank Mehta (brother-in-law) and Purvi Modi," the enforcement directorate (ED) said. This was done on the request of the probe agency as the “deposits in the bank account were made from proceeds of crime, illegally siphoned off by Nirav Modi from the Punjab National Bank", the ED added. The ED said that Mehta was a director in Dubai and Hong Kong-based companies, which received funds obtained through letters of undertaking (LoU) favouring Nirav Modi. The move comes amid the efforts by the ED and the Central Bureau of Investigation (CBI) to get Nirav Modi extradited from the UK.

Source: Mint July 02, 2019 12:45 UTC