ED Seizes Rs 1350 Cr Worth Diamonds Owned By Nirav Modi And Family:- The officials of the Enforcement Directorate (ED) brought back 2300 kgs of polished diamonds and pearls that are owned by jewelry businessman Nirav Modi and his uncle Mehul Choksi. The seized diamonds are worth Rs 1350 crores and are brought back from Hong Kong as per the officials. A total number of 108 consignments are brought back to Mumbai and 32 among them belonged to the overseas entities that are controlled by Nirav Modi. The rest of the firms are owned by Mehul Choksi.
Nirav Modi and Mehul Choksi fled from the country after a bank fraud. Nirav Modi was caught in London and the Enforcement Directorate officials are in plans to extradite back to the country at the earliest. Both Nirav Modi and Mehul Choksi are probed by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA) in connection with the PNB bank scam in Mumbai which is worth 2 million USD. The total number of valuables seized includes polished diamonds, silver and pearls. The ED officials completed all the legal formalities with the Hong Kong officials after which the valuables are brought back to India.