Vijay Kothari, who was accused for illegally remitting foreign exchange equivalent to Rs 500 crore outside India through banks by submitting forged bills of entry and other documents surrendered before Hon’ble Special Court (PMLA) Mumbai. He had been absconding for the last two years and the Hon’ble Court has granted his custody to Enforcement Directorate (ED) custody till March 23, 2019.

Earlier Hon’ble Special Court had issued a non-bailable warrant against Kothari for his non-appearance thus issuing a Proclamation Order to declare him an absconder on October 30, 2017. Kothari was involved in the layering of funds by carrying out transactions through his five companies. He managed to illegally remit funds outside India through various banks.