London: It's almost like a classic Feluda story. A "priceless" 12th-century Buddha statue is stolen from Nalanda and ends up at the centre of the world antiques market in London. Nearly 60 years later, a sharp-eyed Indian who knows something about art spots it at an exhibition in London.

Detectives from Scotland Yard's crack art and antiques unit are called in, and the story has a happy ending on Independence Day 2018.

At India House, high commissioner Yash Sinha took delivery of the statue from the police team.

He expressed pleasure on two counts. It was particularly appropriate the statue was coming home on Independence Day, and two, it made him happier because he is from Bihar, Nalanda's home state.

Many questions still remain unanswered about how the bronze statue was stolen in 1961 from the Archaeological Museum in Nalanda. Were local staff involved?

It is believed that the ancient artefact, one of 14 Buddha statues stolen at the time, changed hands several times over the years before being eventually sent to a London antiques dealer for sale.

The statue was identified at a trade fair in March this year by members from the Association for Research into Crimes against Art, an organisation that works to preserve cultural heritage, and from the India Pride Project, which aims to recover stolen artefacts.

Michael Ellis, UK minister for arts, heritage and tourism, said Britain was the first country to recover one of the 14 elusive Buddha statues.

The police say the current owner and the dealer were unaware of the icon's history, and agreed to its return to India.

Detective chief inspector Sheila Stewart, who deals with specialist crime at Scotland Yard, said at the handover: "I am delighted to be here to return this important piece of history. This has been made possible with the assistance of the current owner who has made the decision to return the sculpture."

She added: "This is an excellent example of the results that can come (through) close cooperation between law enforcement, trade and scholars. The art and antiques unit, one of the oldest specialist units of the Metropolitan Police, takes great pride in reuniting owners with their stolen property.

"Although the Buddha was stolen 57 years ago, this did not prevent the piece being recognised and credit must go to the eagle-eyed informants who made us aware that the missing piece had been located after so many years."

Her colleague, detective constable Sophie Hayes, stressed: "We are delighted to be able to facilitate the return of this important piece of cultural heritage to India."

The identity of the last dealer was not being disclosed because "no criminality was involved", at least on his part, she said.

As for the Buddha statue, it was "priceless", she commented.

Significantly, she told The Telegraph: "This does not set a precedent."

Which means the Koh-i-Noor diamond stays as part of the crown jewels in the Tower of London.