Nirav Modi and Mehul Choksi
The Enforcement Directorate (ED) brought back over 2,300 kg of polished diamonds and pearls worth Rs 1,350 crore of firms belonging
New Delhi: The Enforcement Directorate (ED) brought back over 2,300 kg of polished diamonds and pearls worth Rs 1,350 crore of firms belonging to Nirav Modi and Mehul Choksi from Hong Kong, officials said.
Nirav Modi and Mehul ChoksiBoth the businessmen are being probed by the ED under the Prevention of Money Laundering Act (PMLA) in connection with an over USD 2 billion alleged bank fraud at a PNB branch in Mumbai.
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The valuables include polished diamonds, pearls and silver jewellery, and are worth Rs 1,350 crore.
Nirav ModiThe ED completed "all legal formalities" with authorities in Hong Kong to bring back these valuables, as per the reports.
These will formally seized under the PMLA now, it said.
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