The Enforcement Directorate (ED) has sought to declare Shravan Gupta, promoter 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.
Because he has deliberately evaded ED ’s nine summons over a period of time, “There is compelling evidence for initiating FEO proceedings against him.
“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. Detailed documentary evidence has been submitted before the court,” said a second officer.
Gupta is accused of receiving proceeds of crime in the ₹ 3,737 crore VVIP chopper deal. 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.
He is also under investigation in an alleged fraud case lodged against him by Emaar India Ltd.
