Jewels worth Rs 1,350 crore brought back from Nirav Modi’s Hong Kong godown
ED claims that Nirav Modi and Mehul Choksi had kept valuables at a Hong Kong godown.Updated: Jun 10, 2020 20:35 IST
The Enforcement Directorate (ED) on Wednesday said it had brought back 108 consignments belonging to Nirav Modi and Mehul Choksi including polished diamonds, silver jewellery and pearls worth Rs 1,350 crore of declared value from Hong Kong.
“Value of these goods have been declared to be Rs 1,350 crores (approx). These valuables include polished diamonds, pearls, pearl and silver jewelry etc. and were kept in the godown of a logistics company in Hong Kong,” an official statement from the agency said.
The consignments weighing approx 2,340 kg were brought back to Mumbai on Wednesday, it added.
Nirav Modi and Mehul Choksi are Indian businessman who are wanted by the authorities in connection with cheating Indian banks of thousands of crores. Nirav Modi, the main accused, in the Rs 23,780 crore Punjab National Bank (PNB) fraud, is currently languishing in a UK prison since March last year. India is attempting to get him extradited. His uncle Mehul Choksi, also accused of cheating Punjab National Bank (PNB), is currently in Antigua.
The development comes a few days after a special Mumbai court allowed ED to confiscate Nirav Modi’s properties.
The ED official statement says these consignments had been sent to Hong Kong from Dubai in early 2018 and the ED had received a tip off in the month of July the same year.
“The authorities were continuously engaged in discussion with various authorities in Hong Kong to bring back these valuables to India. Various modalities were finalized and after completing all the legal formalities these consignments have now been brought back to India.” the release added.
CBI has accused Modi of pulling a large-scale fraud upon the PNB by fraudulently obtaining Letters of Understanding (LOUs or loan agreements) while the Enforcement Directorate is pursuing the businessman for laundering of the proceeds of that fraud.
The ED claims to have earlier brought back 33 consignments of valuables from Dubai and Hong Kong linked to Nirav Modi and Mehul Choksi case. These were valued at around Rs 137 crore, said the agency.