Workers at gems SEZ fear job loss

Raid by the Enforcement Directorate at Rajiv Gem Park in the Hyderabad Gem SEZ, continued till Friday. The total worth of the gems seized is yet to be evaluated.

The Hyderabad Gems Special Economic Zone is a wholly owned subsidiary of the Gitanjali Group owned by Mehul Choksi, the maternal uncle of Nirav Modi, who is involved in the Punjab National Bank case that is making national headlines.

Cases have been registered against both men by the Central Bureau of Investigation. The ED also conducted searches at 35 locations across India and seized diamonds, gold and jewellery worth `549 crore (book value). Total seizure till now is `5,649 crore.

Some 900 workers are currently working at the 15-acre SEZ at Ravirala village in Maheshwaram, Ranga Reddy district, who now fear they will lose their jobs if the ED seals the jewellery manufacturing and export unit in TS.

Raid by the Enforcement Directorate at Rajiv Gem Park in the Hyderabad Gem SEZ, continued till Friday.

Speaking to this newspaper, union leader Dattu said, "Over the last 15 days, a majority of the workers have been kept idle. Most of the work, including cutting and polishing, came to a standstill. On Thursday, 40 officials walked into Rajiv Gem Ltd and another 20 on Friday morning. Intensive searches were conducted. Diamonds, gold, precious stones and business documents were seized. On Friday workers were allowed into the premises, but no work was executed."

ED officials who are assisting the ED team from Mumbai confirmed to this newspaper that, "precious metals have been seized and deposited in 14 lockers of the SEZ, within the premises. Valuation of the seized properties is underway."

Sources said that in addition to the store at Hyderguda (adjacent to the Police Commissionerate), another flagship company store of Geetanjali Gems, at Road Number 36 Banjara Hills, was closed down last year as the store went into loss. This was the second day in a row that the Enforcement Directorate has carried out searches of premises and firms related to Nirav Modi and Mehul Choksi.

■ So far, Hyderabad ED has seized diamonds, gold and precious gems from the Hyderabad Gems SEZ Ltd and four other units located at Ravirayala in Maheswaram of Ranga Reddy district.