PNB scandal: ED brings back consignments of Nirav Modi, Mehul Choksi

NEW DELHI: The Enforcement Directorate (ED) has brought back 108 consignments of various overseas (UAE and Hong Kong) entities of Nirav Modi and Mehul Choksi from Hong Kong.

Both Nirav Modi and Mehul Choksi are the prime accused in $2 billion Punjab National Bank (PNB) scandal. According to ED, values of these goods have been declared to be Rs 1,350 crores (approx.). These valuables include polished diamonds, pearls, pearl and silver jewellery etc. and were kept in the godown of a logistics company in Hong Kong. These consignments were brought back to Mumbai today and the consignments weigh approx. 2340 Kg, said ED in a statement.

These consignments had been sent to Hong Kong from Dubai in early 2018 and the officers of Enforcement Directorate had received intelligence input about these valuables in July 2018.


The agency said that it's officers were continuously engaged in discussion with various authorities in Hong Kong to bring these valuables back to India. Various modalities were finalized and after completing all the legal formalities, these consignments have now been brought back to India. Out of 108 consignments, 32 consignments belong to the entities controlled by Nirav Modi and rests belong to entities controlled by Mehul Choksi.

Earlier, ED had brought back 33 consignments of valuables from Dubai and Hong Kong in Nirav Modi and Mehul Choksi case. These valuables were valued on arrival and were subsequently seized in India and independent valuer assessed these earlier consignments to be worth around Rs. 137 Crore.