PNB fraud case: Court issues non-bailable warrants against Mehul Choksi, Nirav Modi
, ET Bureau|
Updated: Mar 03, 2018, 03.48 PM IST
MUMBAI: Special PMLA Court has just issued non bailable arrest warrants against Mehul Choksi and Nirav Modi in the PNB fraud case. Enforcement Directorate (ED) administers the prevention of money laundering act (PMLA) .
The NBWs will facilitate extradition of the two once their whereabouts are ascertained, claimed Hiten Vaingaonkar, ED counsel. It will also enable ED to be a claimant to Modi's properties in the US, under freeze now, as the latter's flagship firm Firestar Inc has applied for bankruptcy to a US court.
The court has initiated bankruptcy proceedings putting creditor claims on hold.
This potentially impacts CBI and ED process to attach their assets in the US.
The NBWs will facilitate extradition of the two once their whereabouts are ascertained, claimed Hiten Vaingaonkar, ED counsel. It will also enable ED to be a claimant to Modi's properties in the US, under freeze now, as the latter's flagship firm Firestar Inc has applied for bankruptcy to a US court.
The court has initiated bankruptcy proceedings putting creditor claims on hold.
This potentially impacts CBI and ED process to attach their assets in the US.
