The special court had in December 2019 declared Nirav Modi a fugitive economic offender, on a plea of the Enforcement Directorate (ED), which is conducting a probe into the case
MUMBAI â Fresh legal troubles are brewing in Mumbai for fugitive diamantaire Nirav D. Modi, currently battling for bail and against extradition proceedings in a U.K. court, officials said here May 13.
A special court, under the Fugitive Economic Offenders Act, 2018, has served a series of notices to Modi and his sister Purvi Mehta â who turned approver five months ago â besides his group companies, ordering them to appear before Special Judge V.C. Barde in Mumbai June 11.
Barde has also ordered them to explain why the special court should not confiscate the properties and assets of the two siblings and the other group companies as per the law in a money-laundering case filed by the Enforcement Directorate (ED) in early 2018.
A special court here has issued a public notice to fugitive diamond merchant Nirav Modi, wanted in India for alleged fraud and money laundering in the Punjab National Bank scam case, asking why his properties should not be confiscated under the Fugitive Economic Offenders (FEO) Act. Special Judge V C Barde has also asked Modi to appear before the court on June 11. The court said if the accused failed to appear, it will proceed with action against him under the FEO Act. The special court had in December 2019 declared Nirav Modi a fugitive economic offender, on a plea of the Enforcement Directorate (ED), which is conducting a probe into the case.
According to the government official, a scam of this magnitude had potential to create instability in the financial sector but the deft handling saved the entire public sector banking space.
Finmin s prompt measures helped in Nirav Modi extradition process
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Last Updated: Apr 16, 2021, 10:42 PM IST
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Synopsis
UK Home Secretary Priti Patel on Friday signed off on the order to extradite Nirav Modi, wanted in India on fraud and money laundering charges related to the estimated USD 2-billion Punjab National Bank (PNB) scam case.
To put a check on offenders fleeing the country, the government brought the Fugitive Economic Offenders Act 2018.
Prompt measures and legal actions taken by the Indian government and
PNB helped in securing the extradition of diamantaire Nirav Modi by the UK on Friday, a senior official said. UK Home Secretary Priti Patel on Friday signed off on the order to extradite Nirav Modi, wanted in India on fraud and money laundering charges related to the estimated USD 2-billion Punjab National Bank (PNB) scam case.