The Enforcement Directorate conducted a nationwide raid on the offices, showrooms and workshops of billionaire diamond trader Nirav Modi subsequent to a massive $1.8 billion fraud was unearthed in a PNB branch.
Simultaneous raids were carried out on Modi’s offices, showrooms and diamond workshops in Mumbai, Surat (Gujarat) and New Delhi.
ED officials landed at Firestar Diamond Pvt Ltd. head office in Bharat Diamond Bourse, in Bandra Kurla Complex, Modi’s private office at Kohinoor City in Kurla West, his showroom and boutique at Itts House in Fort in south Mumbai and a workshop in Peninsula Business Park in Lower Parel.
In Gujarat, six diamond workshops were raided in Surat SEZ at Sachin town and an office in Belgium Towers on Ring Road, the hub of diamond jewellery trade. Two diamond jewellery boutiques of Modi in New Delhi – in Chanakyapuri and Defence Colony – were also raided.