Latest news with #FugitiveEconomicOffender
NDTV
4 days ago
- Politics
- NDTV
Arms Dealer Sanjay Bhandari Declared Fugitive Economic Offender By Delhi Court
New Delhi: A Delhi special court on Saturday declared UK-based arms dealer Sanjay Bhandari a Fugitive Economic Offender under the Fugitive Economic Offenders (FEO) Act, in connection with an income tax case involving undisclosed foreign assets. The order was passed by Additional Sessions Judge Sanjeev Aggarwal following a plea by the Enforcement Directorate (ED), which alleged that Bhandari had deliberately evaded Indian legal proceedings and possessed foreign assets exceeding Rs 100 crore. The agency emphasised that the UK court's refusal to extradite Bhandari had no bearing on the current proceedings, which are independent and governed by Indian law. Sanjay Bhandari, however, contested the ED's plea, arguing that his residence in the UK is lawful and backed by a ruling from the London High Court, which denied his extradition, citing concerns over his safety in Tihar jail. His counsel, senior advocate Maninder Singh, claimed the ED's application was vague, lacked jurisdiction, and failed to meet the legal threshold under the FEO Act. Singh further argued that the monetary value of the alleged offence did not exceed Rs 100 crore, referencing a 2020 submission by the Income Tax Department. He also pointed out that Bhandari had been discharged by the UK High Court, and no fresh warrants were pending against him. Special Public Prosecutor Zoheb Hossain appeared for the Enforcement Directorate in the matter. The UK High Court had earlier blocked Bhandari's extradition on human rights grounds, citing risks of extortion and violence in Indian custody. The Indian government's subsequent attempt to challenge the decision in Britain's Supreme Court was also rejected.
India Today
5 days ago
- Business
- India Today
UK arms dealer Sanjay Bhandari declared fugitive by court in money laundering case
A Delhi court has declared UK-based arms dealer and defence consultant Sanjay Bhandari a Fugitive Economic Offender (FEO) under the Fugitive Economic Offenders Act, 2018. The declaration comes on the basis of a plea filed by the Enforcement Directorate (ED) in connection with a high-stakes black money and money laundering opposed the ED's application, arguing that his continued stay in the United Kingdom was lawful and protected, citing a decision by the London High Court that denied India's extradition request. His legal team contended that in light of this ruling, he could not be classified as a fugitive under Indian law. However, the Delhi court rejected his arguments and ruled in favour of the ED, paving the way for the confiscation of his assets in India and a controversial figure in India's defence and arms lobby circles, is also accused in a money laundering case involving Robert Vadra, the son-in-law of Congress leader Sonia Gandhi. The case pertains to alleged kickbacks and illicit overseas property transactions, which the ED claims were part of a complex web of financial crime. He lived in India till 2015 and allegedly fled to England after legal actions were initiated against him for owing a large amount of Income Tax. Bhandari first came under the scanner in 2016 after Income Tax raids at his premises revealed classified defence documents and evidence of undisclosed foreign assets. Subsequent probes linked him to a series of offshore entities and unaccounted wealth, with alleged connections to defence procurement deals. He reportedly acted as a middleman and consultant for various foreign arms manufacturers seeking contracts with the Indian the court now declaring him a fugitive economic offender, the ED is expected to intensify efforts to attach and seize Bhandari's known properties and financial interests. The ruling is also likely to strengthen India's diplomatic and legal arguments in any future appeal or extradition review proceedings in the UK.- Ends
India Gazette
5 days ago
- Business
- India Gazette
Delhi Court declares arms dealer Sanjay Bhandari a fugitive economic offender
New Delhi [India], July 5 (ANI): A Delhi special court on Saturday declared UK-based arms dealer Sanjay Bhandari a Fugitive Economic Offender under the Fugitive Economic Offenders (FEO) Act, in connection with an income tax case involving undisclosed foreign assets. The order was passed by Additional Sessions Judge Sanjeev Aggarwal following a plea by the Enforcement Directorate (ED), which alleged that Bhandari had deliberately evaded Indian legal proceedings and possessed foreign assets exceeding Rs 100 crore. The agency emphasised that the UK court's refusal to extradite Bhandari had no bearing on the current proceedings, which are independent and governed by Indian law. Bhandari, however, contested the ED's plea, arguing that his residence in the UK is lawful and backed by a ruling from the London High Court, which denied his extradition, citing concerns over his safety in Tihar jail. His counsel, senior advocate Maninder Singh, claimed the ED's application was vague, lacked jurisdiction, and failed to meet the legal threshold under the FEO Act. Singh further argued that the monetary value of the alleged offence did not exceed 100 crore, referencing a 2020 submission by the Income Tax Department. He also pointed out that Bhandari had been discharged by the UK High Court, and no fresh warrants were pending against him. Special Public Prosecutor Zoheb Hossain appeared for the Enforcement Directorate in the matter. The UK High Court had earlier blocked Bhandari's extradition on human rights grounds, citing risks of extortion and violence in Indian custody. The Indian government's subsequent attempt to challenge the decision in Britain's Supreme Court was also rejected. (ANI)
Time of India
16-05-2025
- Business
- Time of India
UK HC rejected Nirav Modi's bail keeping in mind sheer quantum of fraud: ED
The Enforcement Directorate on Friday said the High Court in UK again rejected bail to fugitive diamond trader Nirav Modi keeping in view the "sheer quantum of fraud" involved in this case and added that extradition proceedings against him were at a "final" stage. Nirav Modi was arrested by the Scotland Yard Police on March 19, 2019 and is currently lodged in jail in that country. " UK High Court has once again refused bail to Nirav Modi, the mastermind of USD 1 billion fraud against PNB, hearing his 4th bail application on Thursday (15.05.2025)," the federal agency said in a statement. After thorough deliberation of arguments of the defence (Nirav Modi) with counter arguments of prosecution (Indian government), written submissions made by the ED, which highlighted the money laundering aspects by using shell companies to launder the proceeds to jurisdictions abroad including UK, and keeping in view the sheer quantum of fraud, the UK High Court rejecting the application, denied bail to Nirav Modi, it said. 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Arvind Forest Trails Villas from ₹3.09 Cr in Bengaluru Avind Forest Trails Book Now Undo The ED said a part of the defrauded amount that was attached and seized by it has been restituted (restored) to the victim banks. The ED said Nirav Modi had made attempts to obtain bail from UK Westminster Magistrate Court on six occasions and three times from the UK High Court. Live Events However, bail to Nirav Modi was denied on each such occasion from the respective UK courts, it said. The agency said the diamantaire filed his fourth bail plea before the UK High Court of Justice King's bench on March 21 citing significant lapse of time and on grounds of health as he challenged the order of UK District Judge Zani dated May 7, 2024 in which he was denied bail. As part of proceedings in this application, the bail plea was comprehensively heard, wherein the government of India (through CPS Counsel team and officials of ED other agencies) "strongly" opposed granting of bail to Nirav Modi, leading to a favourable outcome for India, it said. The money laundering case of the ED was booked on February 14, 2018 on the basis of a CBI FIR that alleged a fraud of Rs 6,498.20 crore (USD 1.015 billion) at the Brady House branch of the Punjab National Bank (PNB). The agency had attached assets, both in India and abroad, worth Rs 2,626.62 crore in this case till now and has filed two chargesheets naming Modi and 35 other accused. The ED also has confiscated movable and immovable assets of Nirav Modi and his associates worth Rs 692.90 crore under the Fugitive Economic Offenders Act of 2018 after a Mumbai court declared him a Fugitive Economic Offender. Out of the total attached/seized properties, assets to the tune of Rs 1,052.42 crore have been successfully restored to the victim banks (PNB consortium banks) till now, it said. Nirav's uncle Mehul Choksi , a co-accused in the PNB fraud case, was arrested by the authorities in Belgium where he had gone for treatment, it said. The duo has been accused of siphoning off over Rs 13,000 crore from the PNB using fraudulent letters of undertaking and foreign letters of credit.
