ED Labels Nirav Modi and Vijay Mallya Fugitive Economic Offenders in Major Crackdown

The Enforcement Directorate has declared 21 individuals as fugitive economic offenders (FEOs) over the past seven years, according to its latest annual report. Among the most high-profile names on the list are Nirav Modi and Vijay Mallya, both of whom are linked to major financial fraud investigations. The agency also said assets worth Rs 2,178 crore have been seized in connection with these cases.

Other names declared as fugitive economic offenders include UK-based arms consultant Sanjay Bhandari and Hajra Iqbal Memon, wife of the late Iqbal Mirchi, who was known as an aide of Dawood Ibrahim. The action reflects the ED’s continuing effort to pursue individuals accused of major economic offences who are believed to be outside India.

Under the Fugitive Economic Offenders Act, an FEO is a person against whom an arrest warrant has been issued in relation to scheduled offences involving Rs 100 crore or more and who has either left India to avoid prosecution or refuses to return to face legal proceedings. Once declared an FEO, authorities can move to confiscate assets and tighten enforcement measures.

Also Read: Normalcy Returns to Noida Factories on Labour Day After Violent Wage Agitation

The report also noted that proceedings to declare Mehul Choksi, Zakir Naik and Mahadev app promoters Sourabh Chandrakar and Ravi Uppal as fugitive economic offenders are still pending before courts. These matters remain sub judice, meaning final decisions have not yet been made.

The latest figures highlight how India’s financial enforcement agencies are increasingly using the FEO law to target large fraud cases with cross-border dimensions. Asset seizure remains a key tool in such investigations, especially when accused individuals are outside the country and criminal trials face delays.

Also Read: Royal Enfield April Sales Surge 31 Percent to Over 1.13 Lakh Units on Domestic Strength