Nirav Modi Information: ED brings again Rs 1,350 crore value polished diamonds, pearls of Nirav Modi, Choksi corporations from Hong Kong | India Enterprise Information – Instances of India: Mehul Choksi (left) and Nirav Modi (File picture)

Nirav Modi Information: ED brings again Rs 1,350 crore value polished diamonds, pearls of Nirav Modi, Choksi corporations from Hong Kong | India Enterprise Information – Instances of India

NEW DELHI: The Enforcement Directorate (ED) on Wednesday introduced again over 2,300 kg of polished diamonds and pearls value Rs 1,350 crore of corporations belonging to Nirav Modi and Mehul Choksi from Hong Kong, officers stated.

Out of the 108 consignments that landed at Mumbai, 32 belong to abroad entities “managed” by Nirav whereas the remaining are of Mehul Choksi corporations.

Each the businessmen are being probed by the ED underneath the Prevention of Cash Laundering Act (PMLA) in reference to an over $2 billion alleged financial institution fraud at a PNB department in Mumbai.
The property embody polished diamonds, pearls and silver jewelry, and is value Rs 1,350 crore.
The ED accomplished “all authorized formalities” with authorities in Hong Kong to carry again these valuables, the company stated.

These will formally be seized underneath the PMLA now, it stated.

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