Mumbai: In a recent development, the Enforcement Directorate (ED) said on Wednesday that it had recalled 108 consignments of various foreign entities of Nirav Modi and Mehul Choksi from Hong Kong.
The ED said the entities include polished diamonds, pearls, jewellery worth Rs 1350 crore.
“Today, we brought back 108 consignments of various foreign organizations Nirav Modi and Mehul Choksi from Hong Kong. The value of these goods has been declared at Rs. 1350 crore,” the ED said in a statement.
“These valuables were valued on arrival and were subsequently seized in India and independent valuer assessed these earlier consignments to be worth around Rs 137 crore,” the ED added.
The ED said that the valuable items recovered from Hong Kong included polished diamonds, pearls, pearls and silver jewellery and were kept in the warehouse of a Hong Kong logistics company. “These consignments were brought back to Mumbai today and the consignment weighed around 2340 kg,” the ED said.
These valuables include polished diamonds, pearls, pearl and silver jewellery and were kept in the godown of a logistics company in Hong Kong. These consignments were brought back to Mumbai today and the consignments weigh approx 2340 kg: Enforcement Directorate (ED) https://t.co/O8n4W4qwKd
— ANI (@ANI) June 10, 2020
Of the 108 consignments landing in Mumbai, 32 are “controlled” by Modi by foreign entities while the rest are from Mehul Choksi firms.
Two traders are being investigated by the ED under the Prevention of Money Laundering Act (PMLA) in a case of bank fraud of over US $ 2 billion at a PNB branch in Mumbai. Precious items include polished diamonds, pearls and silver jewellery, and are valued at Rs 1,350 crore.
The agency said the ED completed “all legal formalities” with officials in Hong Kong. It will now be formally seized under the PMLA, it said.
(With Agency Inputs)