MUMBAI: A Surat court on Wednesday declared fugitive diamantaire Nirav Modi an absconder in the Directorate Revenue of Intelligence (DRI) case pertaining to diversion of duty-free imported diamonds and pearls to the open market. This will enable DRI, too, to attach his properties.In December 2014, DRI, Mumbai had registered a case of diversion of diamonds and pearls from SEZ units in Surat against Firestar International Pvt. Ltd, Firestar Diamond International Pvt. Ltd and Radashir Jewellery Comp Pvt. Ltd. These units, located in Surat, were into import and export of diamonds, pearls and jewellery.
In the SEZ units, goods are allowed to be imported free of customs duty for the purpose of export. However, the DRI probe revealed that the duty-free diamonds and pearls imported by Nirav Modi's companies were being diverted clandestinely to local markets and substituted with locally procured diamonds and pearls. The companies had paid Rs 48.21 crore as customs duty, along with interest and penalty, in that case.