ED moves court to declare Nirav Modi, Mehul Choksi as fugitives

Mumbai: The Enforcement Directorate (ED) on Wednesday submitted two separate applications against jewellers Nirav Modi and Mehul Choksi, who are both accused in the PNB bank fraud case, in a designated court for the issuance of notices to them under the Fugitive Economic Offenders Ordinance declaring them as fugitives.

The ED also requested the court to order the confiscation of their movable/immovable properties, which are allegedly proceeds of crime, and belong to them either directly or indirectly in India, United Kingdom and United Arab Emirates.

Meanwhile, the CBI, as part of its separate probe in the case, has arrested two accused from Ajmer. They were allegedly directors in several shell companies floated by Modi.

The arrested persons, who were identified as Anil Dadhich and Anil Toshnival, both residents of Ajmer, were was keeping tabs on the developments in the PNB scam case’s investigation while being holed up in Rajasthan. “The names of all companies in which the accused were shown as directors is being ascertained. The identity documents were also used to secure a hefty loan,” the investigation revealed. They are being brought to Mumbai on a transit remand.

Earlier, the ED had registered two money laundering cases against Modi, Choksi and others on the basis of FIRs registered by CBI in the case in January. The ED’s probe revealed that Modi and Choksi had allegedly cheated the bank in connivance with some bank officials by fraudulently getting the Letters of Undertakings/Foreign Letters of Credit issued without following the prescribed procedure, thus causing a loss to the bank. It has accused the accused duo of further siphoning off the proceeds of crime.

The ED had conducted 260-odd searches across India and seized valuables including gold, diamond, platinum, silver, precious and semi precious stones, jewellery and watches belonging allegedly to the accused and to firms controlled by them. It has filed two chargesheets in the case.