After Nirav Modi's sister Purvi Modi turned approver in the USD two billion Punjab National Bank fraud case, the Enforcement Directorate's extradition case against the fugitive economic offender has got a boost with the agency officials saying that the UK court hearing the case will be apprised of the confessions and disclosures made by her. The ED has claimed that Purvi's statements substantiate the offence of the prime accused in the bank fraud case.
In their statements and submissions before the court, Purvi and her husband Maiank Mehta have stated that all the companies, properties and accounts mentioned in the prosecution complaint filed by the ED, except Pavillion Point Corporation, belongs to Nirav Modi.
While the first success will come with the ED filling up the government coffers with Rs 579 crore worth assets including those repatriated from abroad with the help of Purvi, who has agreed to cooperate on this front by turning approver, the ED is also eyeing the bigger catch now—the extradition of Niravi Modi for which the proceedings are presently going on in the UK court.
On Friday, the final hearings were underway where the defence team made a strong pitch for his bail plea once again saying he is suffering from depression. But the ED officials said their case is so strong that the UK Court cannot ignore the mounting evidence against the diamantaire, which is why he has been kept in prison after being denied bail at least seven times.
Modi has been in London's Wandsworth Prison since his arrest in March 2019. While he has applied for political asylum in the UK after the rejection of his bail pleas, India has been successfully confiscating his properties under the Fugitive Economic Offenders Act 2018 and making headways in its investigations, the latest being Purvi's disclosures. The ED officials said these details will help the extradition case and all material will be shared with the UK authorities in coming days to strengthen its extradition bid. Meanwhile, the UK court is expected to announce the date on which Modi's extradition case verdict will be given after the final submissions are made.
According to ED, Purvi Modi has agreed to assist in realizing and repatriating various assets in India and abroad totaling to Rs 579 crores to the government. These assets given below are in Purvi’s name or in the names of companies owned by her, said the ED.
Flat in (Breach Candy) Bhulabhai Desai Road, Mumbai
Rs 19.5 crores
Flat in Central Park South, New York, NY in the name of a Trust
US$ 4,995,000 (Eqv. Rs 36.52 crores)
Central Park South, Unit No 33, New York, NY in the name of a Trust
US$ 25,000,000 (Eqv. Rs 182.82 crores)
Bank Account in Switzerland in the name of Purvi Deepak Modi
CHF 20,201,500.00 (Eqv. Rs 168.08 crores)
Bank account in Switzerland Beneficial Owner: Purvi Modi
CHF 13,009,200.00 (Eqv. Rs 108.23 crores)
Flat at Marylebone Road, London, NW15PL, UK.
GBP 6,250,000 (Eqv. Rs 62.1 crores)
Bank Account in Syndicate Bank, Nariman Point, India in the name of Purvi Modi
Rs 1.96 crores
