Hindustan Surkhiyan Desk:The Enforcement Directorate on Sunday raided Gijantaji Gems’ showrooms in four states and seized watches of gold and other valuables.
The ED officials conducted searches in Gitanjali Gems’ showroom at CG road in Ahmedabad and the firm’s store in Chandigarh’s Elante Mall. The ED sleuths seized gold watches and other valuables in searches.
Mehul Choksi is the Managing Director and Chairman of the Gitanjali Gems. Choksi, along with Nirav Modi, came under the scanner of various investigating agencies following Punjab National Bank’s Rs 11,400-crore fraud detection.
The agency also raided stores of Choksi’s firm in Delhi and Calcutta.
The ED had first registered a PMLA case against the Nirav Modi and Mehul Choksi, besides others, on February 14 based on a CBI FIR, on the basis of a Punjab National Bank complaint.
The agency is probing if the allegedly defrauded bank funds were laundered and these proceeds of crime subsequently used by the accused to create illegal assets and black money.
Diamantaire Modi, 46, a regular feature on the lists of rich and famous Indians since 2013, was booked by the CBI, along with wife, brother and Choksi on January 31, for allegedly cheating the state-run PNB to the tune of Rs 280 crore.
Meanwhile, in the latest revelation in the PNB Rs 11,500 crore fraud case, it has come to light that the scam money was used to pay the pending loans of banks.
The scam, reportedly, started in the year 2010. In the multi-crore fraud, Modi’s share was Rs 4,800 crore and Choksi grabbed Rs. 6,000 crore.
46-year-old Modi, who holds an Indian passport, left the country on January 1 while Choksi left the country on January 4. The Ministry of External Affairs has suspended passports of both Modi and Choksi based upon the ED’s request.
The ED has also summoned Nirav Modi and Choksi in connection with its money laundering probe.ABP
