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ED wants NiMo, Mehul Choksi to be declared fugitive offenders

Thursday, July 12, 2018
By Bhavna Uchil

PNB fraud case

The two have not presented themselves before court since the agency filed a complaint against them

The Enforcement Directorate (ED) yesterday approached a special Prevention of Money Laundering (PMLA) court seeking to declare jewellery businessmen Nirav Modi and Mehul Choksi both as  'fugitive offenders' under the new Fugitive Offenders Ordinance.

The ordinance empowers special courts under the PMLA to declare a person as a fugitive economic offender which will enable confiscation of their assets. All 'linked assets' of a loan defaulter can also be confiscated under this ordinance.

The agency's officials and its prosecutor remained tight-lipped on the application. It was submitted before Additional Sessions Judge M S Azmi in a sealed envelope. An order on the matter is expected today.

The ED had recently made an application seeking extradition of Nirav Modi as he had failed to appear for trial before court, which had allowed the extradition process to begin. The court had also earlier issued a non-bailable warrant against Modi.

The PNB fraud case refers to the over Rs13,000 crore scam in which Modi and his uncle Choksi allegedly cheated the bank by getting Letter of Undertakings issued in connivance with bank officials, making the bank liable to the amount.

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