Swiss authorities freeze Nirav Modi's bank accounts on Enforcement Directorate's request

The Swiss authorities on Thursday have frozen four bank accounts of Nirav Modi and his sister Purvi Modi.

The Enforcement Directorate (ED) had appealed the government of Switzerland four months ago to freeze fugitive diamantaire's accounts.

The request was made under the ground that money was deposited in these bank accounts out of money siphoned out illegally from PNB and other banks and the same has represented proceeds of crime.

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Earlier today, reports said that Nirav Modi on Thursday will appear for a routine remand hearing before Westminster Magistrates' Court in London via video link from prison.

The 48-year-old, who has been lodged at Wandsworth prison in south-west London since his arrest in March in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case, will be appearing for the first time since his bail appeal was rejected by the UK High Court earlier this month, his fourth attempt at bail.

Under UK law, Modi is expected to be produced before the court every four weeks, with another remand hearing expected before the July 29 case management hearing currently fixed in the court's calendar.