PNB Bank fraud mastermind Nirav Modi’s sister Purvi Modi, alias Purvi Mehta, and her husband Maiank Mehta have turned approver in the case and also agreed to assist the authorities in realising and repatriating various assets in India and abroad worth `579 crore to the Government of India. These assets are in Purvi Modi’s name or in the names of companies owned by her.
“They filed an application before the Special (PMLA) Court, Mumbai for allowing them to seek pardon under Section 306 and 307 of Criminal Procedure Code and undertook to make true and full disclosure of the circumstances and events without concealing any evidence and provide complete documents. Purvi Modi has also agreed to assist in realising and repatriating various assets in India and abroad totaling to `579 crore to the Government of India,” the ED said in a statement.
These assets include one residential flat in (Breach Candy) Bhulabhai Desai Road, Mumbai worth `19.5 crores, two flats in Central Park South, New York, NY in the name of a Trust worth US$ 4,995,000 (Equivalent to `36.52 crore), one unit at Central Park South, New York, NY in the name of a Trust worth US$ 25,000,000 (Equivalent to `182.82 crores) and a Bank Account in Switzerland in the name of Purvi Deepak Modi with a balance of CHF 20,201,500.00 (Equivalent to `168.08 crores) and another bank account in Switzerland whose beneficial owner is Purvi Modi and it has a balance of CHF 13,009,200.00 (equivalent to `108.23 crore). Other assets are a flat at Marylebone Road, London, NW15PL, UK. Worth GBP 6,250,000 (equivalent to 62.1 crores), a bank account in Syndicate Bank, Nariman Point, Mumbai in the name of Purvi Modi with a balance of `1.96 crores.
Prosecution Complaints (chargesheets) were filed by ED before the Special PMLA Court against Purvi Modi, Maiank Mehta and others in the Nirav Modi Bank Fraud case, the ED said.
“Investigation under PMLA revealed that Purvi Modi has more than a dozen bank accounts and has ownership of various companies/Trusts abroad. Vide their statements and their submissions before the Adjudicating Authority, Purvi Modi and Maiank Mehta have categorically stated that all the companies, properties and accounts mentioned in the Prosecution Complaints (Except Pavillion Point Corporation) belongs to Nirav Modi. She gave her willingness to offer all cooperation to repatriate the assets to India,” it said.
Both of the accused stated that the funds channelised through their accounts were belonging to Nirav Modi and on Nirav Modi’s insistence, it said.
The Special Court has allowed for grant of pardon under Sections 306 and 307 of Cr.P.C., on condition of making full and true disclosure and further allowed that the accused shall be marked as approver in this case. The court further directed that ‘the applicant-accused shall appear before the Court by returning to India, for which purpose the complainant-prosecution shall facilitate the approach of accused at earliest, and shall take suitable steps accordingly. Further investigation in the case is in progress, it added.
