Nirav Modi: Enforcement Directorate raids at several locations
CBI registered a case against the officials of Punjab National Bank.
CHENNAI: The Enforcement Directorate (ED) on Saturday conducted searches at multiple locations in Chennai in regard to the case registered by the Central Bureau of Investigation (CBI) against diamond merchant, Nirav Modi and seized jewellery worth Rs 2 crore.
Senior officials said the raids were conducted at jewellery shops on Harrington Road and Velachery from Friday and metal worth '2 crore was seized from firms linked to Mehul Choksi group.
They have also conducted searched at companies related to the Choksi group in Velachery, T. Nagar and Cathedral road and details about the amount of jewellery seized in these three locations is yet to be updated.
Earlier this day, CBI registered a case against the officials of Punjab National Bank, Nirav Modi and his uncle cum business partner, Mehul Choksi for allegedly committing a Rs 280 crore fraud in 2017 and a fresh case has been registered recently for them being a part of Rs 11,400 crore scam.