India’s Enforcement Directorate (ED) on Thursday said fugitive businessman Nirav Modi's sister has 'remitted' over ₹17 crores from a UK bank account to that of the Indian Government after she was allowed pardon from criminal proceedings in lieu of extending help in the PNB loan fraud case.
“Purvi Modi, Nirav's sister remitted an amount of USD 2316889.03 from the UK Bank account to the bank of Indian Government, Directorate of Enforcement. Thus, ED was able to recover approx. Rs 17.25 Crore from the Proceeds of crime”, the probe agency stated.
“on June 24, Purvi Modi intimated Enforcement Directorate that she had received the knowledge of one bank account in London, United Kingdom in her name, which was opened at the behest of her brother Nirav Modi and that the funds did not belong to her”.
Nirav Modi is presently lodged in a UK jail and has lost his extradition plea to India in connection with the alleged $2 billion loan fraud at the Brady Branch of Punjab National Bank (PNB) in Mumbai.
The 50-year-old jeweler, who remains behind bars at Wandsworth Prison in southwest London, had lost the first stage of the High Court appeals process last week as a judge declined permission to appeal ‘on the papers'.
