Once a person is declared a proclaimed offender, the probe agency can begin confiscation of his properties in India.
Nirav Modi and his uncle Mehul Choksi are the prime accused in the case, which is related to alleged fraudulent issuance of Letters of Undertaking that caused a loss of over USD 2 billion to PNB, a public sector bank.
While Nirav Modi was arrested in London and his extradition process is pending, the whereabouts of Neeshal and Parab were not known, the CBI had said in its application.
The probe agency has claimed that Parab was an executive in Nirav Modi's firm.
Earlier, in its plea seeking to attach the property of the three accused, the central agency had said that they had left the country before the case was registered, so the warrants against them could not be executed.
Meanwhile, a special Prevention of Money Laundering (PMLA) Act court here is likely to pass an order on Thursday on a Enforcement Directorate (ED) plea to declare Nirav Modi a fugitive economic offendor in the case.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.