$19m Diamond Over-Valuation Case Suspended

By John Jeffay / August 22, 2022 / www.idexonline.com / Article Link

(IDEX Online) - The case against customs officials in India accused of over-valuing imported diamonds worth more than $19m has been suspended.Bombay High Court has set aside the show cause notices, which are issued when a government official is held prima facie responsible for misconduct.Pradeep Jhaveri, a customs valuer in Mumbai, was accused of misappropriating bills of entries relating to diamonds he allegedly appraised, according to an India Today report.He and others, including government-approved valuers, were accused of over-valuing low-grade diamonds.The Bombay High Court suspended the show-cause notices after the Supreme Court ruled that officers from the DRI (Directorate of Revenue Intelligence) went beyond their powers in issuing them.

Recent News

Silver inventories rebound in UK, output from major producers rises

December 15, 2025 / www.canadianminingreport.com

Silver's three-month outperformance continues

December 15, 2025 / www.canadianminingreport.com

Silver & Copper Supply Distortions Continue

December 08, 2025 / www.canadianminingreport.com

Gold stocks down in risk-on shift

December 08, 2025 / www.canadianminingreport.com

Gold stocks rocket on metal rebound and equities jump

December 01, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok