ED seeks court order declaring Nirav Modi, Choksi fugitives

Mumbai, Jul 11 (IANS): The ED on Wednesday approached a special court here seeking its order to declare diamond merchants Nirav Modi and his uncle Mehul Choksi both accused in over Rs 13,500 crore Punjab National Bank (PNB) loan fraud case as fugitives because they fled from India a month before they were named in the multi-crore fraudulent case.

The Enforcement Directorate filed two separate applications requesting the designated court to issue notices to Nirav Modi and Choksi under the Fugitive Economic Offenders Ordinance 2018 to declare them fugitives, an ED statement said.

The agency also requested the court to issue an order to confiscate the movable and immovable properties of the two accused which are believed to be the proceeds of crime. It also urged the court to permit it to confiscate other properties of Nirav Modi and Choksi which are directly and indirectly belong to them and have been identified by the agency officials in India, in Britain and in United Arab Emirates.

The ED has been probing two cases of money laundering against Nirav Modi, Choksi and others under Prevention of Money Laundering Act (PMLA) on the basis of FIR registered by the Central Bureau of Investigation (CBI), the prime investigating agency of the case.

Investigations have revealed that Nirav Modi and Choksi have committed the offence of cheating against Mumbai-based Brady House branch of PNB in connivance of certain bank officials in fraudulently getting the Letters of Undertaking and Foreign Letters of Credit issued without following prescribed procedure and cause wrongful loss to the bank.

The accused persons have further siphoned off the proceeds of the crime so generated through the multiple dummy entities in India and abroad, said the statement.

"During the course of investigation, more than 260 searches had been conducted all across India leading to the seizure of gold, diamond, platinum, silver, precious, semi precious stones, jewellery and watches belonging to Nirav Modi and Choksi and the companies controlled by them. Further, bank accounts and shares belonging to Nirav Modi and Choksi and their controlled companies were also frozen by the ED.

"Luxury cars and paintings of the two fugitives have also been seized by the ED," it said.

Further an attachment orders of movable and immovable properties were also issued against the two fugitives and their companies, said the statement.

All the movable and immovable properties seized, freezed or attached by the ED are the part of the list of properties submitted to the special PMLA court for the order of confiscation under the Fugitive Economic Offenders Ordinance, it said.

In these cases, the ED had on May 24 and May 26 filed prosecution complaints or charge sheets under PMLA against Nirav Modi and Choksi. The court has taken cognisance of the charge sheets and issued non-bailable warrant against Nirav Modi and Choksi. On the request of ED and the CBI, the Interpol has also issued Red Corder Notice against Nirav Modi.

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Comment on this article

  • SMR, Karkala

    Wed, Jul 11 2018

    In a master stroke to the PM Modi government PNB Fraud accused Fear mob lynching, and hence will not return to India says Gitanjali Gems Mehul Choksi and Nirav Modi's uncle
    Modi and his uncle Choksi are among the main accused in the fraud case pegged at over Rs 13,400 crore. They have been booked in nearly half-a-dozen cases related to the bank fraud.

    Choksi's lawyer Sanjay Abbot moved the application before special CBI court judge JC Jagdale.

    “It is most respectfully submitted that there have been various reported cases of mob lynching and one of the cases was in relation to an accused who was mob lynched while being inside a jail. This recent trend of mob lynching is growing and is attempting to giving justice on the road by the general public, and subsequently there is no prosecution because of non-identification of a particular individual is giving rise to the said tendency (sic),” his plea says, reported The Indian Express.

    Choksi and Modi are said to have left the country before criminal cases were lodged against them in February.

    Enforcement Directorate was busy targeting opposition leaders who are sceptical about PM Modi's government. It has booked Islamic evangelist without any charges but yet seek court order declaring more than $1 billion financial fraudsters.
    Jai Hind

    DisAgree Agree [1] Reply Report Abuse

  • 57"Chest, Mangalore

    Wed, Jul 11 2018

    Courts had declared Lalit Modi, Dawood Ibrahim, Chota Rajan as fugitives but now we hardly hear about them in news.

    DisAgree Agree [5] Reply Report Abuse

  • Karthik Karkera, Maryhill Mangalore

    Wed, Jul 11 2018

    57 inch, Did you ever blame Congress for all the fugitives you listed above?

    DisAgree [2] Agree [1] Reply Report Abuse

  • 57"Chest, Mangalore

    Wed, Jul 11 2018

    Chowkidar himself is opening the gate and giving his beloveth fugitives safe passage and you want to blame congress which happened during BJP rule.

    DisAgree Agree [2] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Jul 11 2018

    Stop doing time pass & drag them back to India ...

    DisAgree Agree [4] Reply Report Abuse

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