The Surat District Chief Judicial Magisterial Court on Wednesday declared fugitive diamond merchant Nirav Modi an absconder under CrPC section 82, in a case registered against him by Directorate of Revenue Intelligence (DRI), Mumbai. The court asked Modi to remain present on November 15 for further hearing.
On June 22, the court had issued warrant against Modi after he failed to appear. Thereafter, the customs department of Surat had started procedure to declare Modi absconder.
The case pertains to the 2014 seizure of export consignments of three firms of Modi from a Mumbai house by the DRI. All the three firms — Firestar International Diamonds Limited, Firestar International Private Ltd, Radhashir Jewellery — were located at Special Economic Zone in Surat.
Sources in the DRI said that during their investigation they found that Modi had imported high quality of rough diamonds and exported low quality of diamonds and channeled high value of imported diamonds in local market against SEZ norms.