Enforcement Directorate said it has frozen mutual funds and shares worth Rs 94.52 crore of the Nirav Modi and Mehul Choksi groups in connection with a money laundering probe against them in the Rs 11,400-crore alleged fraud at the Punjab National Bank (PNB).It also seized nine high-end luxury cars of Modi as part of its investigation against him under the criminal provisions of the Prevention of Money Laundering Act (PMLA).