ED seizes over 2,300 kg of diamonds and pearls belonging to Nirav Modi and Mehul Choksi. Is Nirav Modi prisoned?

ED seizes over 2,300 kg of diamonds and pearls belonging to Nirav Modi and Mehul Choksi. Is Nirav Modi prisoned?

 The Enforcement Directorate (ED) on Wednesday recovered 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, the agency announced.

Out of the 108 consignments that arrived at Mumbai, 32 belong to overseas entities in the UAE and Hong Kong "controlled" by Nirav Modi while the rest are of Mehul Choksi firms, it said in a declaration. The ED performed "all legal formalities" with authorities in Hong Kong to bring back these valuables, the agency stated. These valuables, officials announced, were transferred to Hong Kong from Dubai in early 2018 so that they could be preserved from being seized or attached by the ED or any other investigating agency.

The ED got intelligence inputs on this movement in July that year and since then the sleuths were on its path. These valuables were stored in the godown of a logistics company in Hong Kong, the central probe agency told. "The officers were continuously engaged in discussion with various authorities in Hong Kong to bring these valuables back to India. Various modalities were finalised and after completing all the legal formalities these consignments have now been brought back to India," it stated, adding they will be formally seized under the PMLA.

This is another such work on this case as ED had earlier brought back 33 consignments of valuables from Dubai and Hong Kong. They were priced at Rs 137 crore then, the ED announced. On June 8, a special PMLA court in Mumbai had allowed the confiscation of the seized assets of Nirav Modi, the key accused in this case, under the Fugitive Economic Offenders Act (FEOA).

This was the first such order in the country after the Fugitive Economic Offenders Act was enacted two years ago. Nirav Modi (49), currently lodged in a UK jail, was announced a fugitive economic offender in December by the Mumbai court. He was arrested in London in March 2019 and is presently struggling extradition to India.

His uncle Mehul Choksi has been dodging the law since the inquiry into this case began and was last declared to be residing in Antigua and Barbuda from where the Indian government is seeking his extradition, the probe agencies have announced.