The Enforcement Directorate (ED) has declared 21 individuals as fugitive economic offenders (FEOs) over the past seven years, including high-profile names such as Nirav Modi and Vijay Mallya [1][2]. The agency has confiscated assets worth approximately Rs 2,178.34 crore under the Fugitive Economic Offenders Act (FEOA) during this period [3].
Scope of proceedings
Proceedings under the FEOA have been initiated against 54 individuals to date [4]. In the financial year 2025-26 alone, nine individuals were declared FEOs [5]. The cases of declaring Mehul Choksi, Zakir Naik, Sourabh Chandrakar, and Ravi Uppal as FEOs remain sub judice in court [6].
Sanjay Bhandari case
Sanjay Bhandari was declared an FEO by a special court (PMLA) last year following an ED application on December 13, 2019 [7]. Bhandari fled to London after income tax raids in 2016 and escaped India via Nepal in 2016 [8]. An Interpol Red Notice was issued against him in October 2017 [9].
Investigations revealed that Bhandari had undisclosed foreign income of Rs 655 crore and foreign assets exceeding Rs 100 crore [10]. Between 2009 and 2016, he deposited large sums into overseas shell company accounts and invested in properties in the UAE and UK [11]. The ED filed a Prosecution Complaint against Bhandari in 2020 and a supplementary PC in 2023 [12]. The agency has sought confiscation of his properties before the Special Court (PMLA), Rouse Avenue Court [13].
What to watch next
With nine FEO declarations already in 2025-26 and several high-profile cases pending in court, the ED's enforcement under the FEOA is likely to intensify, potentially leading to further asset seizures and extradition efforts.