Nirav Modi had defrauded PNB of Rs 13,000 crore through forged letters of undertaking. (File photo)
MUMBAI: In a significant fallout of diamantaire Nirav Modi's sister Purvi and her husband Maiank Mehta turning approvers, the Enforcement Directorate (ED) will be able to recover Rs 580 crore through auction of their attached properties and money lying in their bank accounts without any legal hassle, sources said.
The duo turning witnesses against Nirav bolsters the ED case against the diamantaire, who along with his uncle Mehul Choksi, defrauded Punjab National Bank (PNB) of Rs 13,000 crore through forged letters of undertaking, in connivance with the bank officials. They laundered the defrauded money abroad through large-scale fraudulent imports and exports of jewellery and diamonds.