Court allows return of Modi's confiscated assets to PNB

Mumbai: A special court here has allowed "restoration" of properties worth Rs 440 crore of fugitive jeweler Nirav Modi, confiscated by the Enforcement Directorate (ED), to the Punjab National Bank (PNB).

Nirav Modi and his uncle Mehul Choksi are accused of committing a Rs 14,000 crore scam by obtaining credit facilities fraudulently from the PNB, a public sector bank.

The order was passed by V C Barde, special judge for Prevention of Money Laundering Act, last week. The detailed order became available on Thursday.