Nirav Modi and Chowksi ‘looted’ more than 40k crore worth Kashmir sapphire through armed smugglers: Renzu

Srinagar: Former Bureaucrat and patron Kashmir Society Farooq Ahmed Renzu Saturday said that: “all information about the stock of Kashmir sapphire which was available in foreign showrooms of Nirav Modi and Gitanjali of Choksi showroom is more than 40 k crores, while as per the Jammu Kashmir Government official records from 1963 till 2017 only 420 lacs worth revenue has been recovered in sequel to well documented records of each gram of Kashmir sapphire explored from rare of rarest blue mines at Suncham Padder Kishtwar.”
He said that in State Assembly these official records were documented by Industries Minister of J&K.
“Mr Choksi who had frequently been in Udhampur and who was supplemented by 152 crores of J&K Bank seems one of the close partners of Sapphire loot from Kashmir by Nirav,” Renzur said.
“Recently Crores of PNB loot reveal that the Kashmir sapphire stock has been main trade of Nirav. This may be noted that as compared to official sale of 17 kilograms of total sapphire accumulated in official treasures from 1962 to 13 march 2008 only 1.13 corers were recovered by J&K Government in 2008 while as One (1) single Kashmir sapphire Blue Diamond ring named ‘Kashmir star’ was sold 19.88 carats was sold to Nirav and Choksi for 22 crores in 2011.The then Minister had announced the issuance of global tender but during same year world famous discovery channel in its investigative Programme “GAMES OF STONES” how Kashmir Sapphire is being sold in Jaipur openly at 1.20 crores per piece.”
Renzu said that as compared to the stock of auctions of sapphire in J&K, the showrooms shells available in Public domain show stock worth more than 40k crores. Even one blue Kashmir sapphire ring was sold by Christie in Geneva for 22 crores of Indian currency value. Similarly, thousands of rings and necklaces of Kashmir sapphire were sold by these looters of Kashmir treasure, he said.