Enforcement Directorate and Fugitive Economic Offenders
The Enforcement Directorate (ED) has identified and declared various individuals as fugitive economic offenders (FEOs) over the past seven years. This includes notable names such as Nirav Modi, Vijay Mallya, Sanjay Bhandari, and Hajra Iqbal Memon.
Definition of a Fugitive Economic Offender
- An FEO is someone against whom a warrant for arrest has been issued in relation to a scheduled offence.
- The offence must involve a total value of Rs 100 crore or more.
- The individual must have left India to avoid prosecution, or refuse to return to India to face prosecution.
Current Status and Legal Proceedings
- Decisions regarding individuals like Mehul Choksi, Zakir Naik, and Mahadev app promoters Sourabh Chandrakar and Ravi Uppal remain pending in courts under the Fugitive Economic Offenders Act (FEOA).
Key Figures and Statistics
- Proceedings under FEOA have been initiated against 54 individuals to date.
- 21 individuals have been declared FEOs, resulting in the confiscation of assets worth approximately Rs 2,178.34 crore.
- Nine individuals were declared FEOs in the financial year 2025-26 alone.
Performance and Commitment of ED
The ED's actions over the financial years 2024-25 and 2025-26 demonstrate significant asset recovery and an increase in the number of individuals declared as fugitives, showcasing its commitment to acting swiftly against those who flee India to evade prosecution.
Case Study: Sanjay Bhandari
- A UK-based arms dealer, Bhandari fled to London after income tax raids in 2016.
- He escaped India via Nepal in 2016, leading to an Interpol Red Notice against him in October 2017.
- Investigations revealed undisclosed foreign income of Rs 655 crore and foreign assets exceeding Rs 100 crore.
- Between 2009 and 2016, he deposited large sums into overseas shell company accounts and invested in properties in the UAE and UK.
- The ED filed a Prosecution Complaint against him in 2020 and a supplementary complaint in 2023, seeking confiscation of his properties.
