Based on a plea from Nirav Modi, today the Delhi High Court issued a notice to the Enforcement Directorate (ED.) The Court stressed out the fact the case is sketchy. Nirav Modi is the key accused in the Rs. 12,700 crore Punjab National Bank (PNB) fraud.
Yesterday, Modi’s Firestar Diamonds International moved to the Delhi High Court challenging the Prevention of Money Laundering Act (PMLA) that allowed the ED to search and seize properties. Modi in his plea said, “I can understand search, I can understand seizure. But they have taken away my properties and given them to PNB.”
The ED conducted a search without following a proper process. They did not provide a copy of the search warrant to the company officials.
The Judge was quoted saying, “Want to wait to see what the ED has to say because Vijay Agarwal (Modi’s lawyer) himself does not seem to be too sure of the facts of the case.” The Judge further added, “It is not clear under what authority the ED went to search the properties.”
Vijay Aggarwal said the High Court asked the ED to present all the documents related to the ongoing case. The Court said the case is sketchy as the exact facts are unknown.
Aggarwal said, “The Court asked the ED to present all documents and said the matter is sketchy since we do not have all the facts. We told them that this is the basis of our petition that there is no information.” Aggarwal further added the Court fixed the hearing on the 19th of March at 2:15 P.M.
