Enforcement Directorate is going to confiscate Nirav Modi’s assets worth Rs 7,000 crores under the Fugitive Economic Offenders Ordinance. Nirav Modi is going to be considered a fugitive by the agency, as the Union government permits it to act against the offender, and the official compliant which has been submitted under the Prevention of Money Laundering Act (PMLA). Enforcement Directorate submitted its chargesheet in May 24, in which the named of Nirav Modi, his father, brother Neeshal Modi, brother in law Mayank Mehta and companies Ms Solar Exports, Stellar Diamonds and Diamonds R Us. CBI had previously filed a charge sheet against Mehul Choksi, and others, in the case of fraud.
The court is going to take cognizance of the 12,000 page charge sheet tomorrow. The court has already issued a non-bailable warrant, and ED has asked the interpol to obtain a global arrest warrant against the fugitive, who ran away from the country in the beginning of January (6th) with his family, and Mehul Choksi.
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