The Enforcement Directorate (ED) has decided to initiate proceedings to declare Ami Modi, wife of fugitive diamantaire Nirav Modi, and Priti Choksi, wife of businessman Mehul Choksi, as Fugitive Economic Offenders (FEOs) in connection with the alleged ₹13,000-crore Punjab National Bank (PNB) fraud case. According to officials familiar with the development, the agency plans to file separate applications before the competent court against the two women. The move is aimed at identifying and confiscating assets allegedly linked to the proceeds of crime in India and abroad. The proposed proceedings come as Indian agencies continue to pursue legal action against the key accused in the banking fraud and their alleged associates.

An ED official said the agency believes both women played roles in laundering funds allegedly siphoned off through fraudulent transactions involving PNB. The official said the agency would identify assets held by Ami Modi and Priti Choksi in India and overseas and seek their confiscation under the Fugitive Economic Offenders Act, 2018. The law provides a legal mechanism to deal with individuals accused of serious economic offences who leave India to avoid prosecution or refuse to return to face criminal proceedings. A declaration under the Act can enable the confiscation of properties linked to an offender, subject to the statutory process and the court’s orders.

Nirav Modi has been in custody in the United Kingdom since his arrest in London on March 19, 2019, following India’s extradition request. He is accused of defrauding PNB of approximately ₹6,498 crore through transactions linked to the larger banking fraud, estimated at ₹13,578 crore. Nirav Modi was declared a Fugitive Economic Offender in December 2019. His uncle, Mehul Choksi, is accused in connected cases involving alleged fraud of around ₹7,000 crore and is currently lodged in a prison in Antwerp, Belgium, after his arrest in April 2025. India has been pursuing extradition proceedings against both men, with their return dependent on the legal processes and decisions of the respective countries.

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The ED has alleged that Ami Modi was involved in transactions linked to the movement of funds obtained through the alleged fraud. According to the agency’s March 2019 charge sheet, she allegedly used an international bank account to transfer $30 million. Investigators have also alleged that she served as a director in certain companies allegedly used to launder the proceeds of the fraud. The agency has further claimed that the funds were used to acquire property in New York’s Central Park area. Ami Modi left India with Nirav Modi and other family members in early January 2018, according to the investigation. Interpol issued a red notice against her in August 2020, as the authorities continued efforts connected with the case.

Priti Choksi has also been named in the ED’s investigation into the alleged laundering of funds linked to her husband’s business operations. In a charge sheet filed in March 2022, the agency alleged that she was the ultimate beneficial owner of three companies in the United Arab Emirates used to route and park funds obtained through the alleged fraud. The ED has claimed that she helped incorporate companies in the UAE to acquire properties and was aware that the businesses were beneficially owned and controlled by Mehul Choksi. Priti Choksi, also known as Priti Pradyotkumar Kothari, reportedly lived with her husband in Antigua and Barbuda before they moved to Belgium. These allegations remain part of the agency’s case and are subject to legal proceedings.

The proposed action against the two women follows other steps taken by the ED to extend its investigation to individuals allegedly connected with the PNB fraud. In February 2026, the agency moved applications seeking to declare Nirav Modi’s brothers, Nehal Modi and Neeshal Modi, along with two associates, Aditya Nanavati and Sandeep Mistry, Fugitive Economic Offenders. Mistry was subsequently deported from the United Arab Emirates and taken into custody by the Central Bureau of Investigation. While Nirav Modi has already been declared an FEO, proceedings against Mehul Choksi remain before a Mumbai court. The ED’s planned applications against Ami Modi and Priti Choksi would bring the agency’s allegations concerning their roles and assets before the court for consideration.

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