The Central Bureau of Investigation (CBI) took a significant step on Monday. They approached a special court in Mumbai with a formal plea. The agency wants two key aides of fugitive businessman Nirav Modi to be declared proclaimed offenders. This move is part of the ongoing fraud case linked to the Punjab National Bank (PNB).
Court Adjourns the Matter for Further Arguments
The special court did not make an immediate decision. Instead, it adjourned the matter. The court will hear arguments on the CBI's application at a later date. This gives both sides time to prepare their cases thoroughly.
Details of the CBI's Application
The CBI's application specifically targets two individuals. Sandeep Mistry is one of them. He served as a director for one of Nirav Modi's companies based in Hong Kong. The other person is Mihir Bhansali. He was closely associated with Nirav Modi's various business activities.
Both Mistry and Bhansali have been absent from the legal proceedings for a long time. Their prolonged absence has prompted the CBI to take this action. The agency is using Section 84 of the Bharatiya Nagarik Suraksha Sanhita (BNSS). This section deals with proclaiming a person as absconding or a proclaimed offender.
Background of the PNB Fraud Case
The Punjab National Bank fraud case is one of India's largest financial scandals. It came to light several years ago. Nirav Modi, a prominent jeweler, is the main accused. He allegedly defrauded PNB of thousands of crores of rupees through fraudulent letters of undertaking.
Nirav Modi fled India and is currently a fugitive. He is believed to be living abroad. The Indian authorities have been trying to extradite him to face trial. Meanwhile, the investigation continues to uncover the roles of his associates.
The CBI has been diligently pursuing all individuals linked to the case. Declaring someone a proclaimed offender is a serious legal step. It allows the court to proceed with the trial even in their absence. It also enables the authorities to take stronger measures to secure their appearance.
What Happens Next?
The special court will reconvene to hear arguments from the CBI. The defense, if any, will also have a chance to present their side. The court will then decide whether to declare Sandeep Mistry and Mihir Bhansali as proclaimed offenders.
This development underscores the CBI's commitment to bringing all involved parties to justice. It highlights the ongoing efforts to resolve the massive PNB fraud case. The financial and legal implications of this case continue to resonate across India's banking sector.
