ED brings back Rs 1,350-crore worth Nirav Modi, Mehul Choksi jewels

The Enforcement Directorate (ED) brought back over 2,340 kg of polished diamonds, pearls, and silver jewellery belonging to diamantaires Nirav Modi and Mehul Choksi, valued at Rs 1,350 crore from Hong Kong.

The valuables were brought to Mumbai in 108 consignments, of which 32 belong to Modi and remaining to Choksi. "Valuation and seizure formalities are in progress," the ED said.

These consignments had been sent to Hong Kong from Dubai in early 2018 and ED officers persuaded authorities in Hong Kong to allow these valuables to be brought back to India. "Various modalities were finalised and after completing all the legal formalities, these consignments have now been brought back to India."

Even earlier, the ED had brought back 33 consignments of valuables from Dubai and Hong Kong in the Modi, Choksi case. These valuables were evaluated by independent valuers to be worth Rs 137 crore.

Nirav Modi and Mehul Chowksi had fled India in 2018 after taking loans from the Punjab National Bank (PNB). They are under investigation by the ED under the Prevention of Money Laundering Act..