National

ED brings back Rs 1,350-cr worth polished diamonds, pearls of Nirav Modi, Choksi firms from HK

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.

migrator

Updated:10th Jun, 2020 at 6:14 PM

New Delhi

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.

The ED completed "all legal formalities" with authorities in Hong Kongto bring back these valuables, the agency said.These will formallyseized under the PMLA now, it said..

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 PNB branch in Mumbai. The valuables include polished diamonds, pearls, and silver jewelry, 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 formally be seized under the PMLA now, it said.

ED brings back Rs 1,350-cr worth polished diamonds, pearls of Nirav Modi, Choksi firms from HK

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.

Also Read

Chennai, districts receive showers as northeast monsoon onset nears; heavy rain forecast across TN

TVK will take a call if AIADMK MLAs switch sides: Minister Arunraj

Madras HC questions repeated denial of permission for RSS marches in TN

TN Class 12 public exams to begin on March 3, Class 10 exams from March 17

Madras HC grants conditional bail to fourth accused in Kavin Selva Ganesh murder case