Why did fugitive Nirav Modi's 3 flats in Mumbai become headache for ED? closed for 5 years

Nirav Modi News: PNB scam accused Nirav Modi fled the country in the year 2018, since then his three flats worth billions of rupees are lying closed in Mumbai. These flats have now put the ED in trouble.

Nirav Modi News: In the Punjab National Bank (PNB) scam, three flats of fugitive diamond trader Nirav Modi have put the Enforcement Directorate (ED) in trouble. All these three flats are situated on the sea shore of Worli, South Mumbai. The ED had put these flats up for auction, but due to legal hurdles, no buyer could be found for these flats. The estimated market value of these flats was estimated at Rs 110 crore. ED officials say that these flats have expensive household items and paintings.

The Times of India has written quoting ED sources that the lock has been hanging on these flats for the last five years after the escape of Nirav Modi. Nirav Modi fled the country in the year 2018 soon after the CBI and ED filed a case in the PNB scam. If the government converts these flats into guest houses, then a huge cost will have to be paid for their maintenance. Sources said that the household items, utensils and paintings inside the flats are in perfect condition, but still the government is not interested in renovation and maintenance of these properties.

What are the challenges before ED?

Sources said that at present the ED is using the seized premises of drug smuggler Iqbal Mirchi for its Zone 2 office. Even if the ED uses Nirav Modi's flats as a guesthouse, it will face challenges in shifting the expensive items kept inside. ED officials fear that if there is any damage to the goods, it may lead to controversy.

ED had started the process of auctioning these flats last year.

Sources say that ED officials discussed the issue with senior officials in Delhi to find a middle ground, but no success has been achieved so far. The ED had started the process of auctioning these flats last year, but the process got delayed as Nirav's son approached the court claiming ownership over it. Nirav Modi has been declared a fugitive economic offender by the court in India.