Nirav Modi’s Company Firestar Diamond moves Delhi HC against seizure of properties by ED

Nirav Modi’s company Firestar Diamond International Private Limited has approached the Delhi High Court against seizing of movable properties of the company by the Enforcement Directorate (ED) in connection with PNB scam..The petition filed through Advocates Mudit Jain and Ashish Rohlania, seeks quashing of ED’s act of taking away the movable properties and depositing the same with the Punjab National Bank..Nirav Modi company has also sought copies of the search warrant, Enforcement Case Information Report registered by ED and other documents pursuant to which the search and seizure was conducted by ED at the premises of Firestar Diamond..The petition also sought framing of guidelines for conducting search and seizure by the ED, including on the aspect of whether the victim can be permitted to be a part of search and seizure itself, in order to ensure fair and transparent functioning of the ED..It further prays that Section 19, 20 and 70 of the Prevention of Money Laundering Act (PMLA) and the PMLA (Taking Possession of Attached and Frozen Properties Confirmed by the Adjudicating Authority) Rules, be declared as ultra vires to the Constitution..The matter was heard today by the Division Bench of Justices S Muralidhar and IS Mehta. Appearing for Firestar Diamond, Advocate Vijay Aggarwal submitted that urgent intervention is required in the matter..The Court issued notice and asked the Enforcement Directorate to place before it, the complete sequence of facts. The Court asked for the authority which had issued the orders and the exact value of the properties, among other things..The Court also directed that an officer, who is conversant with the facts of the case, be present on the next date of hearing. The matter will next be heard on March 19.