Over 2,300 kg of polished diamonds, pearls and jewellery worth Rs 1,350 crore that fraud-accused jewelers Nirav Modi and Mehul Choksi allegedly dispatched to Dubai while they were being investigated has been brought back to India by the Enforcement Directorate.
The agency has “successfully imported” from Hong Kong around 108 packages of jewellery and gems belonging to firms controlled by Nirav Modi and his uncle Mehul Choksi. The two were planning to fly these consignments to Dubai from Hong Kong in 2018 while evading officials on their trail, investigators say.
These include polished diamonds, pearls, pearl and silver jewellery. Investigators say the entire shipment is valued at around Rs 1,350 crore and weighs 2,340 kg.
Following tipoffs by intelligence agencies, the Enforcement Directorate launched an effort to persuade Hong Kong to import the jewellery to India so it could be officially seized in the Punjab National Bank (PNB) loan scam case.
The packages have been brought to Mumbai, according to officials.
Officials say of the 108 consignments, 32 belong to Nirav Modi and 76 belong to Mehul Choksi.
Nirav Modi, 48, and Mehul Choksi, 60, are accused in a scam involving fake guarantees in the name of state-run PNB to secure overseas loans. Both fled India in 2018, before the Central Bureau of Investigations (CBI) began investigations.
Both the businessmen are being investigated by the Enforcement Directorate under the Prevention of Money Laundering Act.