New Delhi: The Singapore High Court on Tuesday ordered freezing of balance of USD 6.122 million (Rs 44.41 crore) in the bank account maintained there by M/s Pavilion Point Corporation, British Virgin Island, a company beneficially owned by Maiank Mehta and Purvi Modi, brother-in-law and sister of Nirav Modi.
The order followed a request by the Enforcement Directorate on the ground that deposits in the account were made from ‘proceeds of crime’ by money illegally siphoned off by Modi from the Punjab National Bank.
Only last week, four Swiss bank accounts of Modi, the main accused in the USD 2 billion PNB fraud case, and Purvi were frozen by authorities in Switzerland as part of the criminal money laundering probe being conducted against them in India, sources said.
The accounts, with deposits totalling Rs 283.16 crore, were frozen on the request of the ED after it informed Switzerland authorities that the money kept in them was “proceeds of crime” of a bank fraud perpetrated by the duo.
Meanwhile, the diamantaire has been lodged in the Wandsworth prison in south-west London since his arrest in March. The first case management hearing in his extradition case took place at Westminster Magistrates’ Court on May 30 when the judge directed the Indian government to confirm which prison Modi would be lodged in if he were to be extradited to India, setting a 14-day deadline for a confirmation of the prison plans in India.