ED Brings Back Jewels Worth Rs 1,350 Crore From Nirav Modi’s Hong Kong Godown

Mumbai: The Enforcement Directorate (ED) has brought back jewellery, belonging to Nirav Modi and Mehul Choksi, worth Rs 1,350 crore 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 jewellery etc. and were kept in the godown of a logistics company in Hong Kong,” an ED statement said.

The consignments, weighing about 2,340 kg, were brought to Mumbai on Wednesday.

Indian businessmen Modi and Choksi are wanted by the authorities in connection with cheating Indian banks of thousands of crores.

Modi, main accused in the Rs 23,780 crore Punjab National Bank (PNB) fraud, is lodged in a UK prison since March last year, with the Indian government trying to get him extradited.

Choksi, his uncle, is also accused of cheating PNB and is currently in Antigua.

A special court in Mumbai recently allowed ED to confiscate Modi’s properties.

“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.

Also Read: Nirav Modi Joins Mallya In Economic Offenders Club