The Enforcement Directorate (ED) has brought back from Hong Kong 108 consignments of precious gems and jewellery, with a declared value of ₹1,350 crore, in connection with the Punjab National Bank (PNB) fraud case. They were kept in the godown of a logistics company in Hong Kong,” said a senior ED official. The consignments, weighing about 2,340 kg, were sent by the accused persons to Hong Kong from Dubai in early 2018. The officials were in constant touch with their counterparts in Hong Kong in this regard. On June 8, a special court in Mumbai had allowed the ED to confiscate property worth ₹1,400 crore of Mr. Nirav Modi under the Fugitive Economic Offenders Act.

Source: The Hindu June 10, 2020 12:56 UTC