ED brings back jewelleries worth Rs 1,350 crore belonging to Nirav Modi, Mehul Choksi from abroad
New Delhi/IBNS: The Enforcement Directorate (ED) has managed to bring back to India over 2,300 kg of polished diamonds, pearls and jewellery worth Rs 1,350 crore belonging to fraud-accused jewellers Nirav Modi and Mehul Choksi from abroad.
These valuables were allegedly dispatched by the duo to Dubai and Hong Kong when they being investigated for an alleged fraud in connection with the Punjab National Bank.
The probe agency has "successfully imported" from Hong Kong around 108 packages of jewellery and gems belonging to companies owned by Nirav Modi and his uncle Mehul Choksi.
After receiving tipoffs by intelligence agencies, the Enforcement Directorate tried to persuade Hong Kong to import the jewellery to India to make way for official seizure.
The packages have been brought back to Mumbai.
“These valuables include polished diamonds, pearls, pearl and silver jewelry etc. and were kept in the godown of a logistics company in Hong Kong. These consignments were brought back to Mumbai today and the consignments weigh approximately 2,340 kg,” the ED said in a statement.
“The officers were continuously engaged in discussion with various authorities in Hong Kong to bring these valuables back to India. Various modalities were finalized and after completing all the legal formalities, these consignments have now been brought back to India,” the ED added.
Out of the 108 consignments, 32 belong to Nirav Modi and 76 belong to Mehul Choksi.
Nirav Modi and his uncle Mehul Choksi are the prime accused in the Punjab National Bank scam involving fake guarantees in the name of the state-run lender to secure loans overseas.
Modi and his uncle Choksi left the country in 2018 before the Central Bureau of Investigation (CBI) registered a case against them.
Both are being also investigated by the Enforcement Directorate under the Prevention of Money Laundering Act.
Nirav Modi was arrested in London last year. The fugitive businessman is fighting extradition to India from jail.
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