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.
Some 900 workers are currently working at the 15-acre SEZ at Ravirala village in Maheshwaram, Ranga Reddy district, who now fear they will lose their jobs if the ED seals the jewellery manufacturing and export unit in TS.