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唐朱昌
唐朱昌
教授,博士生导师。现任复旦大学中国反洗钱研究中心常务副主任,复旦...
严立新
严立新
复旦大学经济学院、金融研究院副教授,中国反洗钱研究中心执行主...
陈浩然
陈浩然
复旦大学法学院教授、博士生导师;复旦大学国际刑法研究中心主任。...
何 萍
何 萍
华东政法大学刑法学教授,复旦大学中国反洗钱研究中心特聘研究员,荷...
李小杰
李小杰
蚂蚁金服反洗钱总监,复旦大学中国反洗钱研究中心特聘研究员;澳大利...
周锦贤
周锦贤
周锦贤先生,香港人,广州暨南大学法律学士,复旦大学中国反洗钱研究中...
童文俊
童文俊
高级经济师,复旦大学金融学博士,复旦大学经济学博士后。现供职于中...
汤 俊
汤 俊
中南财经政法大学教授,计算机科学与技术专业工学博士,复旦大学理论...
李 刚
李 刚
生辰:1977.7.26 籍贯:辽宁抚顺 民族:汉 党派:九三学社 职称:教授 研究...
祝亚雄
祝亚雄
祝亚雄,1974年生,浙江衢州人。浙江师范大学经济与管理学院副教授,博...
高增安
高增安
复旦大学中国反洗钱研究中心特聘研究员,专事反洗钱与贸易领域的研...
顾卿华
顾卿华
复旦大学中国反洗钱研究中心特聘研究员;现任快钱支付清算信息有限...
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Appellate tribunal on money laundering restrains fugitive Nirav Modi from disposing properties


https://www.moneycontrol.com/news/india/appellate-tribunal-on-money-laundering-restrains-fugitive-nirav-modi-from-disposing-properties-3018411.html

 

The appellate tribunal against money laundering directed fugitive diamantaire Nirav Modi and others, accused of siphoning of Rs 6498.20 crore from PNB and UBI consortium, not to dispose or create third party interest in their 21 immovable properties.

 

Justice Manmohan Singh, chairman of Appellate Tribunal on Prevention of Money Laundering Act, said Nirav Modi is "not trustworthy" as he had fled from the country, and banks' right to recover the public money has to be protected.

 

Granting relief to PNB and UBI consortium, Justice Singh said, "As far as the interim order at present sought by the appellant Punjab National Bank is concerned. I am of the considered view that strong prima-facie case has been made out against Nirav Modi, Ami Nirav Modi and others who are liable to the same with regard to 21 properties."

 

"Under these circumstances, I direct that the respondent (Nirav Modi and others) shall maintain the status quo in relation to the said property and particularly Nirav Modi, Ami Nirav Modi and other respondents shall not dispose of or create third party interest in respect of 21 immovable properties ... having fair market value of Rs 532.72 crore were personally attached of the said respondent here as the prima facie, I am of the view that the bank is entitle to receive the amount after sale proceeds," Justice Singh said.

 

Referring to the gamut of the matter, the tribunal said it was of the view that Nirav Modi was not "trustworthy who ran away from this country after cheating the banks and citizens of this country. The Government through various agencies have taken many steps to bring him back to home country."

 

It noted that there was an apprehension that Nirav Modi may try to alter the present status of movable and immovable properties and said the public sector banks, who have been cheated by him, are victim parties.

 

"Their money is a clean money, it must come to the banks. Most of these are public sector banks. It is the public money," the tribunal said.

 

The PNB and UBI consortium have filed the appeal in the tribunal seeking maintenance of the "status quo" in relation to all the properties owned by Nirav Modi and others who have been made accused in cases lodged by CBI and the Enforcement Directorate (ED).

 

As per the CBI's FIR, three firms -- M/s Diamond RUS, M/s Solar Export and M/s Stellar Diamond -- were involved in the banking fraud and siphoned off money Rs 2210.61 crore, Rs 2215.88 crore and Rs 2134.71 crore respectively.

 

The funds were obtained by these firms by cheating PNB bank to fraudulently obtain Letter of undertakings (LOUs) , it said, adding, "The total proceeds of crime in respect of all the said three Nirav Modi firms/entities arrived at Rs 6498.20 crore."

 

The tribunal, while granting interim relief to Banks, issued notices to ED, Nirav Modi and others and fixed the appeal of banks for final disposal on December 10.

 

An FIR was lodged by the CBI on the complaint of PNB, alleging that three Nirav Modi firms have fraudulently got issued a total of 150 LOUs aggregating to Rs 6498.20 crores during the period from February to May, 2017.