A Mumbai court has declared Nirav Modi a fugitive economic offender under a recent anti-fraud law after a plea by the Enforcement Directorate (ED).
He is the second person, after Vijay Mallya, to be charged under the Fugitive Economic Offenders Act, which was passed last August. It is aimed at stopping a growing number of high-profile economic offenders fleeing the country to avoid legal action.
Modi is currently lodged in a London prison, from where he is fighting extradition on charges related to the nearly $2 billion Punjab National Bank (PNB) money-laundering and fraud case.
Modi (48) and his uncle, Mehul Choksi (60), are the prime accused in a scam involving fake guarantees in the name of a state-run lender to secure overseas loans. Both fled India in January last year, before the CBI began investigations in the scam, NDTV reported.
Mumbai: Sridevi, who died under controversial circumstances in Dubai on February 18, 2018, lives in…
Angul: Unidentified miscreants looted an automatic teller machine (ATM) of the State Bank of India…
New Delhi: An earthquake measuring 5.8 on Richter scale struck near the coast of central…
Sambalpur: A gambling racket was busted by the police with the arrest of six persons…
New Delhi: BJP chief J P Nadda on Sunday joined his party colleagues in targeting…
Mumbai: A 20-year-old man from Maharashtra’s Palghar district got so desperate for money that he…
Bhubaneswar: Voicing concern over Odisha topping the list of crimes against women in the country,…
Ghaziabad: A massive fire broke out at a chemical factory in Uttar Pradesh’s Ghaziabad. A…