HC asks Nirav Modi's company to tell him to come back

April 11, 2018 22:42

The Delhi high court today directed diamantaire Nirav Modi's company, Firestar Diamond, to ask him to return to India, dubbing him a "fugitive".

A bench of Justices S Muralidhar and I S Mehta passed the direction after the company's lawyer said relief should not be denied to it on a technicality that Firestar International had authorised the filing of petitions by its subsidiary, Firestar Diamond.

"If we should not stress upon technicality. Then ask Mr Modi to come back. Ask him to come back," the bench told advocate Vijay Aggarwal, who appeared for Firestar Diamond and Firestar International.

Expressing "serious concern" over Modi's statement to investigative agencies that he will not submit to their jurisdiction, the court said "we are dealing with a fugitive here according to them (ED). A fugitive from justice stands on a different footing."

Agarwal, however, said that the media has termed Modi as a fugitive and only non-bailable warrants have been issued against him and no order proclaiming him as an absconder has been passed.

The Enforcement Directorate has conducted searches and seizure of the company and its assets in connection with a money laundering case related to the over Rs 11,000 crore Punjab National Bank fraud case.

Agarwal urged the bench to either stay the ED proceedings against the two companies or direct the agency to provide the reasons for its search and seizure action.

The ED, represented by Additional Solicitor General Sandeep Sethi and central government standing counsel Amit Mahajan, raised several objections, including that of jurisdiction, against maintainability of the pleas.

The agency contended that no relief should be granted to the two companies under the discretionary power of the court as Modi was a "fugitive from justice", was "absconding" and not joining the investigation.

It showed the share holding pattern of the two companies and several others in which Modi has stake and argued that he was the person behind all of them.

The court took note of the share holding pattern and said it was "intricate" and "speaks for itself".

The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief. -- PTI

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