Endeavors to declare wanted Diamond Merchant
Nirav Modi a FEO (Fugitive Economic Offender) by law enforcement
agencies were deferred further as hearing on this case has delayed further by
special Mumbai Session Court until it is endowed with the proper powers.
UM Mudholkar, a special judge, stated in his order that courts
considering such issues must have powers under both, the one assigned for the
Central Bureau of Investigation or Anti-Corruption Branch & the second one
the Prevention of Money Laundering Act. He further said “This court is
presented only with powers under the PML Act.
In an application by Nirav Modi, documented via Senior Advocate VijayAggarwal, had withstood that court under Prevention of Money Laundering
Act (PMLA) is a assigned court, it was not assigned under the PCA (Prevention of Corruption Act).
The judge said “passing of any effective order in such
situation by this court would not be legitimate”. The notification may come in
short time. In order to any more complications, the passing of the order this
application can be conceded till next date or till receipt of the notice."
The diamond merchant Nirav Modi must be labeled as FEO
(Fugitive Economic Offender) before ED (Enforcement Directorate) can connect
his foreign resources. The Law Enforcement Agencies documented an application
under section 4 of FEO act, a year back.
. Nonetheless, contentions on the issue are yet to begin because of the
different requests documented by Modi challenging the move.
The Diamantire Nirav Modi & his uncle Mehul Choksi
are being interrogated by the Central Bureau of Investigation & Enforcement
Directorate in country’s biggest scam of Rs 13,750 crore caused to Punjab
National Bank. The Enforcement Directorate (ED) is examining the money
laundering part of the scam and the Central Bureau of Investigation is
investigating from criminal connivance.