Provisional attachment under PMLA freezes group properties amid ongoing bank fraud investigation and parallel probes.
Attachment under the Prevention of Money Laundering Act: the Enforcement Directorate issued a provisional order attaching 21 immovable properties - including residential units, office premises, a farmhouse, a solar power plant and land - linked to the Nirav Modi group as proceeds or instrumentalities in a bank fraud probe, following earlier seizures of movable assets and amid parallel investigations and summonses for key persons.

Asset seizure under PMLA preserves suspected proceeds of bank fraud while parallel criminal investigations continue.
Investigators froze mutual fund holdings and shares of the implicated business groups and seized multiple high-end vehicles as enforcement measures under the Prevention of Money Laundering Act, taken to preserve property potentially connected to proceeds of the alleged bank fraud while parallel criminal enquiries and registrations continue.

Money laundering summons under PMLA for alleged bank fraud, probe into diversion and asset creation
Summons under the Prevention of Money Laundering Act were issued to two principal businessmen in an investigation arising from a bank complaint and FIR; notices were served on company directors abroad, the agency registered a PMLA case, conducted raids seizing high-value diamonds, jewellery and gold, and is probing whether allegedly misappropriated bank funds were laundered into illegal assets.

Money laundering law amendments expand proceeds scope, add corporate fraud, reform bail rules and extend investigative timelines.
The Finance Act, 2018 amends the PMLA to extend the proceeds of crime concept to property equivalents held abroad, make bail conditions under Section 45(1) uniformly applicable with a leniency threshold for less serious cases, include corporate fraud under the schedule via Section 447 of the Companies Act, adjust the provisional attachment 180 day limit to include stays and a short extension, grant the Enforcement Directorate additional pre prosecution investigation time, permit formal information sharing with other agencies, and allow Special Courts to consider restoration claims during trial.