Raid by the Enforcement Directorate at Rajiv Gem Park in the Hyderabad Gem SEZ, continued till Friday. The total worth of the gems seized is yet to be evaluated.
The Hyderabad Gems Special Economic Zone is a wholly owned subsidiary of the Gitanjali Group owned by Mehul Choksi, the maternal uncle of Nirav Modi, who is involved in the Punjab National Bank case that is making national headlines.
Cases have been registered against both men by the Central Bureau of Investigation. The ED also conducted searches at 35 locations across India and seized diamonds, gold and jewellery worth Rs 549 crore (book value). Total seizure till now is Rs 5,649 crore.
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