ED brings back polished diamonds, pearls worth Rs 1,350 crore from Nirav Modi and Mehul Choksi’s Hong Kong-based firms
The valuables include polished diamonds, pearls and silver jewellery, and is worth Rs 1,350 crore. The ED completed ‘all legal formalities’ with authorities in Hong Kong to bring back these valuables, the agency said.
New Delhi: The Enforcement Directorate (ED) on Wednesday brought back over 2,300 kg of polished diamonds and pearls worth Rs 1,350 crore of firms belonging to Nirav Modi and Mehul Choksi from Hong Kong, officials said.
File photos of Nirav Modi (left) and Mehul Choksi. Pic courtesy: YouTube
Out of the 108 consignments that landed at Mumbai, 32 belong to overseas entities “controlled” by Modi while the rest are of Mehul Choksi firms.
Both the businessmen are being probed by the ED under the Prevention of Money Laundering Act (PMLA) in connection with an over USD 2 billion alleged bank fraud at a Punjab National Bank (PNB) branch in Mumbai.
The valuables include polished diamonds, pearls and silver jewellery, and is worth Rs 1,350 crore. The ED completed “all legal formalities” with authorities in Hong Kong to bring back these valuables, the agency said. These will be formally seized under the PMLA now, it said.
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