The Enforcement Directorate, ED has moved Mumbai’s special Prevention of Money Laundering Act court seeking to declare diamond traders Nirav Modi and Mehul Choksi as ‘fugitive economic offenders’.
Two separate applications under the recently promulgated Fugitive Economic Offenders Ordinance were filed in the PNB fraud case. The application also seeks to confiscate their assets worth 3,500 carore rupees. The move has been made on the basis of the chargesheet filed by the agency recently.
Nirav Modi and his uncle Choksi are being investigated by the ED and the CBI after it was detected that they allegedly cheated Punjab National Bank of more than 13,400 crore rupees.