A special court in Mumbai today declared Nirav Modi a fugitive economic offender. The key accused in the Punjab National Bank fraud case was declared fugitive on a plea of the Enforcement Directorate. He is the second businessman after Vijay Mallya to be<br />''declared a fugitive economic offender under provisions of the new Fugitive Economic Offenders Act, which came into existencein August last year.<br />''<br />''Nirav Modi and his uncle Mehul Choksi are the prime accused in the PNB fraud case, related to alleged fraudulent issuance of Letters of Undertaking that caused a loss of over 2 billion dollar to the public sector bank.<br />''<span style="color: #222222;"><br />''Nirav Modi was earlier arrested in London and his extradition process is pending.</span><br />