ED, I-T department jointly raid jewellers, diamond firms

  • | Thursday | 22nd February, 2018

The diamond firms were raided after documents were seized establishing their business relations with the companies owned by Modi and Choksi.Diamond industry believes that the raids by the ED and I-T sleuths have been an order of the day in the diamond markets in Mahidharpura. It is likely to be extended to the Varachha diamond market and at some of the factories and companies, who were in business dealings with Nirav Modi and Mehul Choksi.It is learnt that the diamond firms in Mahidhpura were doing the consultancy for Gitanjali Gems in the diamond market for selling rough diamonds and sourcing polished diamonds. SURAT: The Enforcement Directorate ED ) and Income Tax department jointly conducted raids on the offices and the jewellery showrooms owned by a leading jeweller from Vapi in Valsad including Surat in connection with the multi-crore bank scam perpetrated by Nirav Modi and Gitajnali Gems chairman, Mehul Choksi.Sources said that the ED and I-T officials raided around three locations in the Mahidhapura diamond market’s Kansara sheri on Wednesday.

SURAT: The Enforcement Directorate ED ) and Income Tax department jointly conducted raids on the offices and the jewellery showrooms owned by a leading jeweller from Vapi in Valsad including Surat in connection with the multi-crore bank scam perpetrated by Nirav Modi and Gitajnali Gems chairman, Mehul Choksi.Sources said that the ED and I-T officials raided around three locations in the Mahidhapura diamond market’s Kansara sheri on Wednesday. The diamond firms were raided after documents were seized establishing their business relations with the companies owned by Modi and Choksi.Diamond industry believes that the raids by the ED and I-T sleuths have been an order of the day in the diamond markets in Mahidharpura. It is likely to be extended to the Varachha diamond market and at some of the factories and companies, who were in business dealings with Nirav Modi and Mehul Choksi.It is learnt that the diamond firms in Mahidhpura were doing the consultancy for Gitanjali Gems in the diamond market for selling rough diamonds and sourcing polished diamonds.

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