Authorities claim 2,340 Kg Diamonds and Pearls are valued at Rs. 1350 Cr. But diamond experts doubt it and Mumbai customs says no consignment with us.
Mumbai: The Enforcement Directorate (ED), which is investigating Nirav Modi and his nephew Mehul Choksi’s money laundering case has disclosed that they have brought back 2,340 Kg valuables including Diamonds, Pearls and Silver jewelry worth Rs. 1,350 Cr. from Hong Kong, but diamond experts in Mumbai said that the value shown by ED must be the book value of the Modi-Choksi firms. These valuables must be revalued in India from government approved and independent valuers.
Hardik Hundia said that news of 108 consignments landing in Mumbai is given, but the custom officers are unaware of any such consignments having landed in Mumbai. “As these are high-ended valuables custom duty is a must. Now the million dollar question is who will pay custom duty on these consignments. If the diamonds are in Mumbai we will definitely come to know about it. I feel that the value government declaring is the book value of diamonds and pearls. Government should do valuation of this consignment before paying custom duty”, said Hundia.
He also said that bringing back the valuables from Hong Kong is good move forward and now PNB bank money recovery got some hope.
