Enforcement Directorate faced a major setback in its probing against absconder businessman Mehul Choksi as the Bombay High Court has stayed the proceedings for a temporarily period under the fugitive economic offender’s act of 2018. Choksi is presently situated in Antigua and Barbuda after he fled from India in January 2018. He has denied returning whereas officials are seeking his extradition with the Caribbean legal authorities. Under the Prevention of Money Laundering Act, the special court in Mumbai is hearing the proceedings to declare Choksi a fugitive economic offender in the Punjab National Bank (PNB). It is a scam worth Rs 13,500 crores. His properties of abroad can be seized by the officials, under the Fugitive Economic Offender act. Special Prevention of Money Laundering Act Court has received order from the Bombay High Court that it will not pass the final order on the application filed by ED to declare Mehul Choksi a “Fu...
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