A special court in Mumbai has issued notices to Nirav Modi's brothers, Neeshal and Nehal, asking them to explain why they should not be declared fugitive economic offenders in connection with the Punjab National Bank scam.
A special court in Mumbai has issued notices to Nirav Modi's brothers, Neeshal and Nehal Modi, asking them to explain why they should not be declared fugitive economic offenders in the Punjab National Bank scam.
Both Purvi Deepak Modi and Neeshal Modi are accused in the $2-billion scam allegedly orchestrated by their elder brother Nirav Modi and uncle Mehul Choksi in Punjab National Bank, they said.
The ED has charged the accused under various sections of the Indian Penal Code and the Prevention of Money Laundering Act (PMLA) in the over Rs 13,000 crore PNB scam case.
Despite Nirav Modi win, in the last five years, India managed to bring only about 20 fugitive offenders.
The Singapore high court has put a freeze on deposits of $ 6.122 million following Enforcement Directorate's request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav Modi from the Punjab National Bank.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
The move takes the process of extraditing and bringing back Nirav Modi to face the law in India to the next stage, the sources said.
The Harvard alum has known the Yale alum for ages, but hit it off recently.
'I was shocked by the kidnapping episode. I could have lost my life.'
Nultiple regulators are probing the nexus of scamsters with diamonds after a state-run bank got defrauded of $1.8 billion by designer jeweller Nirav Modi.
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