New Delhi, March 30 (IANS) The Enforcement Directorate has investigated 1,105 bank fraud cases under the Prevention of Money Laundering Act (PMLA) and has attached proceeds of crime worth Rs 64,920 crore, Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday. She also said that action had been taken under the Fugitive Economic Offenders Act (FEOA) against those evading Indian law by staying abroad.This was a reference to high-profile cases such as the Nirav Modi case, including …
Latest Fugitive Economic Offenders Act News & Updates
Mumbai, Feb 12 (IANS) UK-based businessman and alleged financial defaulter Vijay Mallya, on Thursday, got one last chance from the Bombay High Court to return to the country and submit to its jurisdiction if he wants Indian authorities to drop his “fugitive economic offender” tag. A bench led by Chief Justice Shree Chandrashekhar pulled up the fugitive businessman for seeking relief from an Indian court while remaining abroad.”If you do not return, we cannot hear your petition. You are evading t…
New Delhi, Feb 11 (IANS) A special PMLA court has declared Amira Pure Foods Private Limited Chairman and Managing Director Karan A. Chanana, and Whole-Time Director Anita Daing as fugitive economic offenders and ordered the confiscation of assets worth Rs 123.85 crore belonging to the accused persons and companies.This declaration has been made under the Fugitive Economic Offenders Act (FEOA), on the basis of an application filed by the Enforcement Directorate’s Gurugram Zonal Office, accordin…
Gurugram, Jan 18 (IANS) A Special Court (PMLA) in Gurugram has declared Jitender Kumar Garg and Sunil Jindal — promoters and directors in various companies of SRS Group — as fugitive economic offenders in the more than Rs 2,200 crore investment fraud involving funds collected from public and banks, an ED official said on Sunday. The declaration by the Special Court was issued on January 15 under the Fugitive Economic Offenders Act, 2018 (FEOA), the ED said in a statement.Jindal, according to E…