ED brings back jewellery worth of Rs 1,350-cr belonging to Nirav Modi and Mehul Choksi’s firms
New Delhi | Jagran News Desk: In a big win against the fugitive businessmen Nirav Modi and Mehul Choksi, the Enforcement Directorate (ED) on Wednesday brought back polished diamonds, pearls, and silver jewellery valued at Rs 1,350 crore from Hong Kong, which were owned by Nirav and Choksi’s firms.
The ED successfully brought back around 108 packages of jewellery and gems from Hong Kong to Mumbai which belongs to the entities controlled by Mehul Choksi and Nirav Modi. These entities are based in United Arab Emirates (UAE) and Hong Kong. The two were planning to fly these consignments to Dubai from Hong Kong in 2018 while evading officials on their trail.
Officials say of the 108 consignments, 32 belong to Nirav Modi and 76 belong to Mehul Choksi. The valuables include polished diamonds, pearls, pearl and silver jewellery and weighs around 2,340 kg. "Valuation and seizure formalities are in progress," the ED said.
These consignments had been sent to Hong Kong from Dubai in early 2018 and the officers of the Enforcement Directorate had received intelligence input about these valuables in July 2018. The ED said that its officers were continuously engaged in discussion with various authorities in Hong Kong to bring these valuables back to India.
"Various modalities were finalised and after completing all the legal formalities, these consignments have now been brought back to India," the ED said as reported by news agency IANS.
Earlier, the ED had successfully brought back 33 consignments of valuables from Dubai and Hong Kong in Nirav Modi and Mehul Choksi case. These valuables were evaluated on arrival and subsequently seized in India. Independent valuers assessed these earlier consignments to be worth around Rs 137 crore, the ED said.
Both, Nirav Modi and Mehul Choksi are accused in a scam of fake guarantees in the name of state-run Punjab National Bank to secure overseas loans. Both the accused fled India in 2018, before the CBI started investigating the matter. Both the businessmen are being investigated by the Enforcement Directorate under the Prevention of Money Laundering Act.
(With IANS Inputs)
Posted By: Talib Khan