PNB Fraud Case: Special Court Issues Notices To Nirav Modi’s Brothers, Executives On ED Plea To Declare Them Fugitive Economic Offenders
A special court has issued notices to Nirav Modi’s brothers and three senior executives after the Enforcement Directorate sought to declare them fugitive economic offenders in the ₹23,780 crore PNB fraud case. The court has asked them to file their replies by May 7.
Special court issues notices to associates of fugitive diamantaire Nirav Modi following an ED plea in the ₹23,780 crore PNB fraud case | PTI
Mumbai, March 5: A special court hearing cases related to fugitive diamantaire Nirav Modi has issued notices to his brothers, Neeshal Modi and Nehal Modi, and senior executives Aditya Nanavati, Mihir Bhanusali and Sandeep Mistry on a plea filed by the Enforcement Directorate (ED) seeking to declare them fugitive economic offenders.
ED moves court under Fugitive Economic Offenders Act
The agency last month moved separate applications before the special court to declare the five individuals fugitive economic offenders under the Fugitive Economic Offenders Act, stating that they remain wanted in the ₹23,780 crore Punjab National Bank fraud case along with Modi.
Nirav Modi, lodged in a UK prison while contesting extradition proceedings, was declared a fugitive economic offender on December 5, 2019.
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Property confiscation sought
Five years later, the ED approached the court seeking similar declarations against his brothers and the senior executives. If allowed, it would enable the agency to confiscate their properties in India and abroad.
In separate orders, the court issued notices to the five individuals seeking their replies by May 7.
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