In its 9 June edition, the Hindustan Times reported that a special court has ordered the confiscation of the properties of Nirav Modi, the main accused in the Punjab National Bank (PNB) fraud, under the Fugitive Economic Offenders’ (FEO) Act 2018. Modi is in prison in London facing extradition. Nirav Modi was declared FEO under the new law on December, following which the court began the process towards confiscation of his properties. The court refused to permit Nirav to intervene in the process but allowed banks to be heard.
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