New Delhi, Mar 24: In a fresh development, the Enforcement Directorate (ED) has seized valuables worth over Rs 36 crore of diamond jeweller Nirav Modi in connection with an ongoing probe into the Punjab National Bank (PNB) scam.

Talking to news agency, an ED official said that joint searches with the CBI were carried from Thursday to early Saturday at Nirav Modi’s palatial ‘Samudra Mahal’ residence in Mumbai.

The seized items includ Rs 10-crore diamond ring, antique jewellery worth Rs 15 crore, high-end watches valued at Rs 1.40 crore, Rs 10 crore-worth paintings by renowned artists including M.F. Hussain, K.K. Hebbar and Amrita Shergil.

The searches were conducted as part of a money trail by the ED and CBI after cases were registered against Nirav Modi and his business partner and uncle Mehul Choksi of the Gitanjali Group for defrauding the PNB bank.

Choksi and Nirav Modi fled the country in January around a month before the PNB filed its first complaint against them. They are still at large.

The ED registered a money laundering case in connection with the Rs 280-crore cheating of Punjab National Bank (PNB) allegedly by Modi and others, on the basis of a FIR filed by the Central Bureau of Investigation. The CBI had booked Modi, his brother, wife and a business partner for allegedly cheating PNB of over Rs 280.70 crore in 2017.

(With agency inputs)