The four bank accounts of jeweller Nirav Modi, have been seized as per the Swiss authorities’ orders.
“His four Swiss bank accounts with a deposit worth Rs 286 crore have been frozen,” a source in Enforcement Directorate said.
Nirav Modi’s Rs 2,000 crore in India and abroad have already been seized by Enforcement Directorate.
The investigation of Nirav Modi and his uncle Mehul Choksi who was accused of fraud in Punjab National Bank, ED is one among the central agencies to work on the case.
The court said that Nirav Modi had no reasons reason to escape to the UK. “It seems he has the means to access funds. It is difficult for me to see why the UK should be a safe haven for him to escape extradition,” the judge said.
The judge clearly considered the raising of security deposit given for bail from 50,000 pounds in the initial application to 2 million pounds in the third application before the court.