NEW DELHI, June 21 -- A special court under the Prevention of Money Laundering Act (PMLA) has allowed the release of properties worth Rs 66.33 crore belonging to fugitive businessman Nirav Modi and his sister, Purvi Modi. These assets were previously attached by the Enforcement Directorate (ED) in connection with the multi-crore Punjab National Bank (PNB) fraud case.

PNB Moves Court To Auction Seized Properties The decision came in response to an application filed by Punjab National Bank seeking permission to sell or auction the attached assets to recover a part of its dues. The bank is leading a consortium of lenders that claims to have suffered a cumulative loss of over Rs 8,526 crore due to the fraud allegedly orchestrated by Nirav Mo...