Sister, brother-in-law turn approver in Nirav Modi bank fraud case; reveals Rs 580 cr more assets of the fugitive
Nirav Modi’s sister Purvi Modi and her husband Maiank Mehta have filed application before Special PMLA Court in Mumbai asking them to seek pardon under Section 306 and 307 of CrPC 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 realizing and repatriating various assets in India and abroad totaling Rs 579 crores to the government of India.
The details of assets in Purvi Modi’s name or in the names of companies owned by her are given below:
| Sr. | Asset Details | Value |
| 1 | Flat in ( Breach Candy) Bhulabhai Desai Road, Mumbai | Rs 19.5 Crore |
| 2 | Flat in Central Park South, New York, NY In the name of a Trust | US$ 4,995,000 (Eqv Rs 36.52 Crore) |
| 3 | Central Park South,Unit No 33, New York, NY in the name of a Trust | US$ 25,000,000 (Eqv. Rs 182.82 Crores) |
| 4 | Bank Account in Switzerland in the name of Purvi Deepak Modi | CHF 20,201,500.00 (Eqv Rs 168.08 Crores) |
| 5 | Bank account in Switzerland Beneficial Owner: PurviModi | CHF 13,009,200.00 (Eqv. Rs 108.23 Crores) |
| 6 | Flat at MARYLEBONE ROAD, LONDON, NW15PL, UK. | GBP 6,250,000 (Eqv. Rs 62.1 Crores) |
| 7 | Bank Account in Syndicate Bank, Nariman Point, India in the name of PurviModi | Rs 1.96 Crores |
Prosecution complaints were filed by the Enforcement Directorate before the Special PMLA Court against Purvi Modi, Maiank Mehta and others in the Nirav Modi Bank Fraud case. Investigation under PMLA revealed that Purvi Modi had more than a dozen bank accounts and ownership of various companies/Trusts abroad.
Also Read: PNB receives $3.25 mn from liquidation of Nirav Modi-owned Cos in US
In their statements and 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 co-operation to repatriate the assets to India. Both of the accused stated that the funds channelized through their accounts were belonging to Nirav Modi and on Nirav Modi’s insistence.
The Special Court has allowed for grant of tender of pardon under Sections 306 and 307 of Cr PC, 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 should appear before the Court by returning to India, for which purpose the complainant-prosecution should facilitate the approach of accused at earliest, and take suitable steps accordingly.
