A special PMLA (Prevention of Money Laundering Act) court on Monday issued an order confiscating assets worth Rs 1,400 crore owned by fugitive diamond jeweller Nirav Modi.
This is the first ever order on confiscation of an offender’s property, under the newly created Fugitive Economic Offenders (FEO) Act, 2018.
Nirav is in custody at Wandsworth prison in the UK, awaiting an extradition trial scheduled for September.
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First Published: Mon, June 08 2020. 21:34 IST