Nirav Modi scam
ED to move court to seize Nirav Modi’s assets under provisions of Fugitive Economic Offenders Ordinance
The ordinance makes provisions to declare a person as a fugitive economic offender
First charge-sheet also names CEO of Allahabad Bank, Usha Ananthasubramanian, former head of PNB.
With this Ordinance, corporate fugitives would be forced to return to India to face trial for scheduled offences.
The bank encumbered in the Rs 14,000-crore scam involving jewellers Nirav Modi, Mehul Choksi
The move taken by CBI today indicates that it is intent on nabbing the absconding businessmen.