ED to confiscate â¹15,000 cr assets under new ordinance
The Enforcement Directorate is moving to confiscate assets worth over â¹15,000 crore belonging to economic offenders who fled India. The new Fugitive Economic Offenders Ordinance provides for confiscation of properties of fugitive economic offenders without conviction. The ED has reportedly decided to approach a special court for Vijay Mallya, Nirav Modi and Mehul Choksi to be declared 'fugitives'.