The record
Written by software from the 1 report below. The points restate them; where one says why it matters, that is Prism's reading, not a reported fact.
- The Enforcement Directorate has petitioned a special court to designate Shravan Gupta as a fugitive economic offender under the 2018 act.
- Gupta is accused of evading multiple summons in connection with money laundering investigations involving the VVIP chopper deal and Emaar India.
- The designation would allow authorities to confiscate his assets globally.
- The legal action follows Gupta's alleged flight from India in 2019 and a standing Interpol red notice.
What to watch next
- Court ruling on the fugitive economic offender application
- Progress on extradition efforts from London
- Potential confiscation of assets
Who said what2
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Enforcement Directorate official
2 quotes · 1 outlet
“We have started the process under the Fugitive Economic Offenders (FEO) Act, 2018 before a special court to declare the businessman Shravan Gupta a fugitive and confiscate his properties”
In the article
…of realty firm MGF, a fugitive economic offender (FEO), people familiar with the development said on Thursday, adding that the designation will allow the agency to confiscate his properties anywhere in the world. “ We have started the process under the Fugitive Economic Offenders (FEO) Act, 2018 before a special court to declare the businessman Shravan Gupta a fugitive and confiscate his properties ,” said an officer, requesting anonymity. Introduced by the government in 2018 to deter economic offenders from evading Indian law by remaining outside the jurisdiction of Indian courts, the fugitive tag empowers…
“There is compelling evidence for initiating FEO proceedings against him because he has deliberately evaded ED’s nine summons over a period of time. Detailed documentary evidence has been submitted before the court”
In the article
…against him by Emaar India Ltd. He allegedly fled from India in November 2019 and is said to be living in London. An Interpol red notice was issued against him in August 2023 and efforts are on to get him extradited. “ There is compelling evidence for initiating FEO proceedings against him because he has deliberately evaded ED’s nine summons over a period of time. Detailed documentary evidence has been submitted before the court ,” said a second officer. Also read: Two promoters of Delhi company declared fugitives over Rs1,200 crore fraud Gupta faces allegations in chopper deal, Emaar case In January 2015, while attaching assets worth ₹82.29…
Coverage1
All filed from India
Named India · United Kingdom · Italy · Mauritius · United Arab Emirates · Agusta · Emaar India · Emaar PJSC · MGF Developments · Enforcement Directorate · Interpol · Shravan Gupta
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