Over 2,340 kg of polished diamonds, pearls, and silver jewellery worth Rs 1,350 crore and owned by firms of fugitive diamantaires Nirav Modi and Mehul Choksi were brought back from Hong Kong by the Enforcement Directorate (ED) on Wednesday.

These entities are based in United Arab Emirates (UAE) and Hong Kong.

The valuables were brought back from Hong Kong to Mumbai in 108 consignments, including 32 belonging to entities controlled by Nirav Modi and remaining 76 belonging to entities controlled by his uncle Mehul Choksi.

“Valuation and seizure formalities are in progress,” the ED said.

Following tip-offs by intelligence agencies, the ED launched an effort to persuade Hong Kong to import the jewellery to India so it could be officially seized in the Punjab National Bank (PNB) loan scam case.

These consignments had been sent to Hong Kong from Dubai in early 2018 and the officers of the Enforcement Directorate had received intelligence input about these valuables in July 2018.

The ED said that its officers were continuously engaged in discussion with various authorities in Hong Kong to bring these valuables back to India.

“Various modalities were finalised and after completing all the legal formalities, these consignments have now been brought back to India.”

Earlier, the ED had successfully brought back 33 consignments of valuables from Dubai and Hong Kong in Nirav Modi and Mehul Choksi case.

These valuables were evaluated on arrival and subsequently seized in India. Independent valuers assessed these earlier consignments to be worth around Rs 137 crore.

Mehul Choksi and his nephew Nirav Modi are being investigated by the ED and the CBI after it was detected that they allegedly cheated Punjab National Bank of more than Rs 13,400 crore with the purported involvement of a few of its employees.