The automobiles have been connected by the company beneath the Prevention of Money Laundering Act (PMLA) up to now.
As per PMLA Court’s order 12 automobiles (10 automobiles of Nirav Modi Group and a pair of automobiles of Mehul choksi Group) have been efficiently bidded for ₹ 3.29 Crore (approx.) in e-auction carried out by way of MSTC.
— ED (@dir_ed) April 26, 2019
The ED had in March obtained the permission of a particular PMLA courtroom in Mumbai for auctioning 12 automobiles of the Modi-Choksi duo as a part of its cash laundering probe within the Rs 13,500-crore alleged financial institution mortgage fraud.
The e-auction was carried out by Metal Scrap Trade Corporation (MSTC) Ltd, it stated in a press release.
“There are 12 vehicles (10 belonging to Nirav Modi group and 2 belonging to Mehul Choksi group) put on e-auction through MSTC platform on 25 April. Out of these 12 vehicles, all vehicles (10 of Nirav Modi group and 2 of Mehul Choksi group) were successfully bid for a total amount of Rs 3,28,94,293,” it stated.
The Income-Tax Department had final month auctioned a number of art works that have been owned by absconding diamond service provider Nirav Modi for Rs 59.37 crore.
The ED and the CBI are investigating Modi, his uncle Choksi and others for alleged cash laundering and corruption to perpetrate the alleged rip-off within the Brady House department of the PNB in Mumbai that was unearthed final 12 months.
While Nirav Modi has been arrested in London lately and India is looking for his extradition, Choksi is claimed to be within the Caribbean nation of Antigua and an analogous authorized motion in opposition to him is on too.
A UK courtroom on Friday additional remanded until 24 May Modi who’s present process extradition proceedings in Britain within the PNB fraud and cash laundering case.
The 48-year-old, who has been behind bars at Wandsworth jail in south-west London since his arrest final month, appeared earlier than Westminster Magistrates’ Court Chief Magistrate Emma Arbuthnot by way of videolink from the jail.
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