PNB Scam: Singapore Court Freezes Bank Account of Company Owned By Nirav Modi’s Sister

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The Singapore High Court has ordered the freezing of Rs 44 crore in bank deposits held in the country by a company owned by family members of businessman Nirav Modi, an accused in the Punjab National Bank (scam), the Enforcement Directorate said on Tuesday.

The bank account belongs to Pavilion Point Corporation, a company in the tax haven of British Virgin Islands in the Caribbean beneficially owned by Modi’s sister Purvi Modi and her husband Maiank Mehta, news portal reported.

The court order came on the Enforcement Directorate’s request that the deposit in the account contained part of money allegedly siphoned off by Nirav Modi from PNB. The scam, worth at least Rs 13,000 crore, came to light last year.

On Thursday, the Enforcement Directorate had seized four Swiss bank accounts belonging to Nirav Modi and Purvi Modi, with Rs 283.16 crore deposited in them.

Nirav Modi is currently in prison in the United Kingdom, where he is facing extradition proceedings.



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