The Enforcement Directorate (ED) may name fugitive jeweller Nirav Modi’s wife Ami Modi in the alleged case of fraud at the Punjab National Bank (PNB) for the first time since beginning its investigation.
The Enforcement Directorate has reminded Interpol of its request for a Red Corner Notice (RCN) to be issued against Mehul Choksi of Gitanjali Gems, as it pushes forward with the Punjab National Bank fraud case.
The Prevention for Money Laundering Act (PMLA) authority has asserted that the 41 properties that the Enforcement Directorate (ED) has attached to the case against jeweller Mehul Choksi are money laundering assets.
As Indian authorities are working to initiate the extradition process of the fugitive jewellery tycoon Mehul Choksi from Antigua to India, the PMO is researching any pending inquiries made into Choksi in 2017.
One of the main defendants in India's largest bank fraud case made a court application on Monday for cancellation of an arrest warrant against him, citing fears for his life due to growing mob lynchings in the country.
On July 4, shares of Mehul Choksi’s jewellery brand Gitanjali Gems dropped by over three percent following the ED’s application to a special Mumbai court to label Choksi a “fugitive economic offender”.
The ED is set to ask a special court in Mumbai to brand jewellery tycoon Mehul Choksi a "fugitive economic offender" and confiscate over Rs 6,000 crore ($900 million) in assets as part of the PNB fraud case.
On June 29, the Enforcement Directorate (ED) announced that it has filed a prosecution complaint against the owner and promoter of Gitanjali Gems, Mehul Choksi, as part of the Punjab National Bank (PNB) fraud case.