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.
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.
Menaka Gambhir had reached the Kolkata airport while going abroad for treatment when she was detained by officials from the Enforcement Directorate (ED) and immigration department. Abhishek Banerjee's sister-in-law approached the Calcutta High Court after the incident and filed a contempt case
The Enforcement Directorate had earlier this month undertaken a similar operation and frozen funds worth Rs 46.67 crore. These funds were stated by the agency to be belonging to certain merchant entities and held in payment gateways like Easebuzz, Razorpay, Cashfree and Paytm
The Calcutta High Court had ordered to involve the Enforcement Directorate (ED) in this case. Trinamool Congress (TMC) MLA Swarna Kamal Saha and other TMC leaders had approached the Supreme Court challenging that order