Sunday, May 27 2018 | Time 17:07 Hrs(IST)
image
image image
  • BJP cites PM Modi's 'chemistry' to counter opposition games of 'arithmetic'
  • Police recovers 6-yr-old's body from Agra canal; arrests accused
  • Revoke suspension of Dr Nisar ul Hassan: DAK
  • Courtney Walsh to continue as head coach for Afghanistan T20Is
  • Ukraine's Svitolina sweeps past Tomljanovic after shaky start
  • Experience really counts but it’s not that it always matters : MS Dhoni
  • Experience really counts but it’s not that it always matters : MS Dhoni
  • Experience really counts but it’s not that it always matters : MS Dhoni
  • CPI(M) targets BJP for alleged alliance with Maoists in Bengal
  • Very fortunate to have Rashid Khan in our team: Kane Williamson
  • Oommen Chandy replaces Digvijay as General Secretary Incharge of Andhra Pradesh
  • Britain's May faces calls to relax Northern Ireland abortion rules
  • CK Birla Hospitals- BMB offering affordable virtual cardiac treatment to rural Bengal
  • Parents of late dentist Savita welcome Irish decision on abortion rules
  • Nipah scare, glut in supply cause price crash of famous Ratnagiri Alphonsa mangos
India Share

ED seizes jewellery worth Rs 85cr in Mehul Choksi case

New Delhi, May 17 (UNI) Enforcement Directorate (ED) sleuths on Thursday seized more than 34,000 pieces of jewellery valued at Rs 85 crore which was brought in from Dubai and were recovered during search proceedings at a strong room belonging to Bharat Diamond Bourse.
The investigating agency found from the data obtained from Punjab National Bank that with the connivance of accused bank officials, unauthorised Letter of Undertakings (LOUs) aggregating to Rs 3,032.17 crore and unauthorised Federal Laboratory Consortium (FLCs), a U.S. based technology transfer organisation, aggregating to Rs 3,106.56 crore were issued to Gitanjali Group of companies.
The funds so raised for payment of Import Bills have not been utilised for such purposes in many cases.
The ongoing probe has also revealed that fugitive jeweller Mehul Choksi-controlled Gitanjali Group has many overseas subsidiaries, dummy or shell companies which were used by him for circular trading.
He had devised a modus operandi under which the Indian companies of Mehul Choksi were importing the unfinished goods or raw material, that is diamonds, coloured stones, pearl among others from his overseas entities situated mainly in Hong Kong and UAE. The same goods were shown to be processed and made into jewellery and again exported by the Indian entities of Mehul Choksi to his overseas firms.

During the detailed investigation, it was also found that after dismounting diamonds, coloured stones and pearls from the jewellery, gold or silver was being sent for melting and converted into bullion and sent back to India directly or through Dubai.
The Choksi-controlled Gitanjali ventures and other subsidiary companies were involved in money laundering through the dubious transactions.
In the earlier seizures, due to proactive action by the officers of the probing agency, they ensured that the goods were brought to India and when these reached at the strong room of Bharat Diamond Bourse in the morning on May 5, this year, the officers of Enforcement Directorate were already there with the search warrant. The declared value of goods is around Rs 92 Crore (US Dollar 13 million), an official release said.
ED got an independent valuation of the goods from Government Approved Valuer done who put the value at Rs 85 crore.

UNI AKS SD 2024
More News

Police recovers 6-yr-old's body from Agra canal; arrests accused

27 May 2018 | 4:58 PM

New Delhi, May 27 (UNI) A body of six-year-old child was recovered from the Agra canal, who was thrown by his intoxicated father into the canal from Khadar Puliya, police said on Sunday.

 Sharesee more..
Modi congratulates tribal students, women for scaling Mt Everest

Modi congratulates tribal students, women for scaling Mt Everest

27 May 2018 | 4:51 PM

New Delhi, May 27 (UNI) Stating that evolution of human history has immense stories of progress and development taking birth in the womb of adventurous spirit, Prime Minister Narendra Modi on Sunday lauded five tribal students from Chandrapur, Maharashtra - Ajeet, Deeya Bajaj, Sangeeta Bahl and a BSF contingent for scaling Mt Everest.

 Sharesee more..

CPI(M) targets BJP for alleged alliance with Maoists in Bengal

27 May 2018 | 4:14 PM

New Delhi, May 27 (UNI) The Communist Party of India (Marxist) on Sunday charged BJP with forging alliance with the Maoists in West Bengal and accused the saffron party of stopping to any level in search of power.

 Sharesee more..

Oommen Chandy replaces Digvijay as General Secretary Incharge of Andhra Pradesh

27 May 2018 | 4:01 PM

New Delhi, May 27 (UNI) Senior Congress leader and former Kerala Chief Minister Oommen Chaney was on Sunday appointed AICC General Secretary incharge for Andhra Pradesh in place of Digvijaya Singh.

 Sharesee more..

UNI NEWS DIGEST AT 1500 HRS FOR MAY 27, 2018

27 May 2018 | 3:02 PM

 Sharesee more..
image