The PMLA court has ordered to seize Nirav Modi's assets.

A special court under the Prevention of Money Laundering Act (PMLA) ordered the confiscation of Nirav Modi's assets worth 1,400 crores.

A special court under the Prevention of Money Laundering Act (PMLA) ordered the confiscation of Nirav Modi's assets worth 1,400 crores.The special court in Mumbai issued an order to seize the assets worth Rupees1400 crores owned by fugitive diamond jeweler Nirav Modi on June 8, 2020. He is an accused in the multi-crore Punjab National Bank scam. The order processed by the PMLA court comprising Special Judge V.C. Barde directed the Income Tax department to attach and confiscate his listed properties under Sections 12(2) and (8) of the Fugitive Economic Offenders Act, 2018.

The properties claimed by certain parties that are secured by hypothecation, mortgage, and valuable paintings seized by the IT department, are excluded.