PNB Fraud Case: Special Court Issues Notices To Nirav Modi’s Brothers, Executives On ED Plea To Declare Them Fugitive Economic Offenders
· Free Press Journal
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
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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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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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