**Bhubaneswar**: The Enforcement Directorate (ED) team conducted a raid at the showrooms of two major jewellery stores of Odisha, Khimji Jewellers and Lalchnd Jewellers in the twin cities of Cuttack and Bhubaneswar.
According to Nitesh Khimji, Owner, Khimji Jewellers,“A team of ED officials raided on our showrooms today in connection with the dealing of brand Naxatra, not Nirav Modi brand.Their intention is to seize the stock of that particular brand as per their legal norms and we are co-operating with them. They are basically targeting and enquiring upon the franchise dealers of Gitanjali Gems (Gili, Asmi, Naxatra) as in Odisha, there is no Nirav Modi brand.”
“Our stock is bought from their distributors with proper mode of payment, so we have nothing to fear,” he further added.
Notably, Punjab National Bank’s (PNB) Rs. 11,300 crore fraud has allegedly been perpetrated by two PNB staffers Gokulnath Shetty and Manoj Kharat who are suspected of steering fraudulent loans to companies linked to billionaire jeweller Nirav Modi and entities tied to jewellery retailer Gitanjali, which is led by Modi’s uncle, Mehul Choksi.
Modi, Choksi and others are being investigated by multiple probe agencies after it recently came to light, following a complaint by the PNB. The CBI and the ED have registered two FIRs each to probe the case.