Vijay Mallya to Nirav Modi: Where are India’s economic fugitives now?

The latest court development involving fugitive diamantaire Nirav Modi’s sister Purvi Modi has once again brought India’s long-running pursuit of economic fugitives into focus. A special CBI court in Mumbai on Monday rejected Purvi’s plea to record her statement through video conferencing. She has also sought to become an approver in the Punjab National Bank (PNB) fraud case.

The case is one of several major financial frauds in which the accused left India and have since remained abroad. According to the Enforcement Directorate (ED), 21 people have been declared Fugitive Economic Offenders (FEOs) under the Fugitive Economic Offenders Act and action has been initiated against 54 people. 

Here is the current status of some of the most prominent names:

Nirav Modi: ₹6,498 crore PNB fraud case

Nirav Modi is accused in the ₹6,498.20-crore PNB bank fraud case, according to the ED. He has been in a UK jail since his arrest in 2019 while fighting extradition to India.

His legal battle has now reached its final stages. In July 2026, reports said Modi had lost his final legal challenge in Europe, clearing the way for the UK to proceed with his extradition to India. The Ministry of External Affairs has also confirmed that it remains in contact with the UK authorities on the extradition process. 

For now, Modi remains in the UK in custody, awaiting the completion of the extradition process. The ED says assets worth ₹1,112.91 crore have been restored in the Nirav Modi case.

Vijay Mallya: ₹6,777 crore Kingfisher loan case

Former Kingfisher Airlines promoter Vijay Mallya was declared an FEO in January 2019. The ED’s latest annual report puts the alleged bank default involving Kingfisher Airlines at ₹6,777.36 crore. It says assets worth ₹14,131.60 crore have been confiscated and restored to the SBI-led consortium.

Mallya continues to live in the UK. In February 2026, he told the Bombay High Court that he could not provide a timeline for returning to India because he was legally unable to leave the UK and his Indian passport had been revoked. 

He has continued to speak publicly from the UK. In a 2025 podcast, Mallya criticised India's business environment and said he would return if he was assured a fair trial.

Mehul Choksi: ₹7,080 crore PNB fraud

Mehul Choksi, another key name allegedly involved with the PNB fraud, is accused of involvement in a fraud of around ₹13,000 crore along with Nirav Modi, with the ED separately putting the bank fraud allegedly attributed to Choksi's group at ₹7,080 crore.

Choksi is currently in Belgium, where his extradition to India is being considered. The Antwerp Court of Appeal in April 2026 gave a positive opinion on extradition on six of the seven charges, leaving the final decision with the Belgian government. 

He was arrested in Antwerp in April 2025 following India's extradition request and remains in custody there, according to recent court reporting. 

The ED's latest restitution data shows that ₹2,565.90 crore worth of assets have been restored in the Mehul Choksi case.

Jatin Mehta: ₹6,580 crore Winsome Diamonds case

Jatin Mehta, former promoter of Winsome Diamonds, is another prominent name allegedly linked to a major bank fraud. The case involves loans and credit facilities of more than ₹6,500 crore.

Mehta and his family have been living in London. The ED has continued its efforts to bring the family within the ambit of the FEO law. In January 2026, ThePrint reported that the agency was considering an application seeking FEO status for Mehta's wife and sons.

Mehta also recently withdrew a petition after the Bombay High Court declined to hear his challenge in his absence, according to January 2026 reporting. 

How much has India recovered?

The government's approach has increasingly focused on recovering assets even when the accused remain outside India. The ED's latest figures show that ₹63,142.65 crore worth of properties have been restored to victims or legitimate claimants across money-laundering cases.

In the three biggest cases involving Mallya, Nirav Modi and Choksi, the ED says the combined loss to public-sector banks was ₹22,585.83 crore, while assets worth ₹18,170.02 crore had been attached or seized.