Show-cause notice issued to Nirav

MUMBAI: A special court here has issued a public notice to fugitive diamond merchant Nirav Modi, wanted in India for alleged fraud and money laundering in the Punjab National Bank scam case, asking why his properties should not be confiscated under the Fugitive Economic Offenders (FEO) Act.

Special Judge VC Barde has also asked Modi to appear before the court on June 11.

The court said if the accused failed to appear, it will proceed with action against him under the FEO Act.

The special court had in December 2019 declared Nirav Modi a fugitive economic offender, on a plea of the Enforcement Directorate (ED), which is conducting a probe into the case. “I, VC Barde, Special Judge, PMLA, 2002, and Fugitive Economic Offenders Act, 2018, issue NOTICE to you to show cause as to why the properties mentioned in the application (ED’S plea), in which you have pecuniary interest and/or otherwise, should not be confiscated under the Act,” the notice said.

A similar notice was also issued to Nirav Modi’s wife Ami, sister Purvi and brother-in-law Maiank Mehta. The notice said the family members have been enumerated as “interested person” in the application.

The investigating agency has alleged that Nirav Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB to the tune of ₹14,000 crore through issuance of fraudulent Letters of Undertaking (Lous).