News UpdatesSpecial Court Allows ED To Attach All Properties Of Fugitive Diamantaire Nirav Modi Barring Mortgaged Properties Nitish Kashyap8 Jun 2020 7:43 AMShare This – xA Special Court in Mumbai on Monday allowed the Enforcement Directorate (ED) to attach properties of fugitive economic offender (FEO) Nirav Modi and to confiscate them, with the exception of those properties mortgaged or hypothecated to parties like Punjab National Bank (PNB). Special Judge, City Civil & Sessions Court VC Barde passed the order while hearing an application filed by ED…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginA Special Court in Mumbai on Monday allowed the Enforcement Directorate (ED) to attach properties of fugitive economic offender (FEO) Nirav Modi and to confiscate them, with the exception of those properties mortgaged or hypothecated to parties like Punjab National Bank (PNB). Special Judge, City Civil & Sessions Court VC Barde passed the order while hearing an application filed by ED on January 19 under Section 12(2) of the Fugitive and Economic Offenders Act. The Fugitive Economic Offenders Act, 2018 empowers any special court set up under the Prevention of Money Laundering Act, 2002, to confiscate all properties and assets of economic offenders who are charged in offences measuring over Rs.100 crores and are evading prosecution by remaining outside the jurisdiction of Indian courts. The act was passed on July 25, 2018 and Vijay Mallya was the first person to be declared a fugitive economic offender under this act before Nirav Modi. With the Special Court’s order, ED is now cleared to confiscate property of an economic offender for the first time since the act came into place. Those properties claimed by the PNB Consortium under Section 12(7) of the FEO Act only secured by mortgage, hypothecation and guarantee and high value paintings seized by the income tax department will be excluded from the list properties of Nirav Modi that can be attached. Court noted that this exclusion from the list of properties that can be attached under the act will entitle the PNB Consortium and IT Department to proceed with their claim before the Competent Court, Authority or Tribunal in the manner provided by law. Nirav Modi was declared a fugitive economic offender on December 5 last year. Court has directed ED to attach the said properties within one month and after the attachment they will be confiscated by the Central government under Sections 12(2)(8) of the FEO Act.Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story
“Gats (Wales coach Warren Gatland) will have a discussion with the players and their regions but Liam needs game-time and Sam has stated he needs game-time,” Jenkins said. “I would have thought Liam plays this week for the Scarlets at Connacht but the final decision will be down to the boss ‘Gats’. “We will have to see how Liam plays and whether he plays the full game. “We will have to see how the game unfolds.” Jenkins also expressed concerns over the lack of Rhys Priestland’s involvement at Bath. The outside-half has started only three times since joining Bath after the World Cup in October and he is very much George Ford’s understudy at the Aviva Premiership club. Priestland will start the Six Nations as back-up to Wales’ number one outside-half Dan Biggar, but Jenkins said the Wales management would have wanted the 29-year-old to play more for his club. “It’s obviously an issue with Rhys not playing much rugby,” Jenkins said. “He’s maybe one that needs rugby but, from our point of view, he’s a fantastic rugby player. “But lack of game-time is a worry. “It’s what it is, but Rhys seems pretty fresh and in good spirits.” Fly-half Sexton was forced to come off with a head injury in the early stages of Leinster’s 51-10 defeat to Wasps in the European Champions Cup on Saturday and must now go through the return to play protocols. The 30-year-old missed Ireland’s Six Nations opener against Italy last year after being stood down from all rugby for 12 weeks after a series of concussions in a short space of time and will train away from the rest of Joe Schmidt’s squad at the start of this week. Wales coach Neil Jenkins feels Ireland will be affected should Jonathan Sexton miss their RBS 6 Nations opener in Dublin. Press Association “In terms of the other 10s coming in they’ve got good players,” Wales kicking coach Jenkins said ahead of the February 7 clash at the Aviva Stadium. “But I’ve no doubt it will affect them. “Johnny’s a world-class player with his all-round ability and his all-round game. “He’s very good defensively and troubles you no end with his kicking game, whether he goes to the corners, goes aerially or attack kicks. “He puts you under pressure with ball in hand and his kicking game – and when he plays he’s a threat to any side.” Wales have their own fitness concerns ahead of the Dublin opener with flanker Sam Warburton and utility back Liam Williams on their way back from respective ankle and foot injuries. Skipper Warburton played for the first time since the end of November in the Cardiff Blues’ European Challenge Cup victory over Calvisano last Friday, while Williams has been sidelined since suffering a recurrence of a foot injury during the World Cup clash with Australia in October. Both players could play for their regions this weekend, with Jenkins saying he expects Williams to figure for the Scarlets in their Guinness Pro12 trip to Connacht.