What is a Fugitive Economic Offender?

A Fugitive Economic Offender is a person accused of serious financial crimes of at least Rs 100 crore who is abroad or refuses to return to face trial. After a court declares FEO status, authorities can confiscate properties, not just alleged proceeds of crime, helping speed up recovery for creditors.

How could this affect public sector bank stocks?

Clearer enforcement in the PNB scam can lift sentiment for PSU banks by improving perceived recovery odds and governance. The effect is usually modest until cash is realized. Watch legal milestones, attachment lists, and auctions to judge whether recoveries are moving from paperwork to actual inflows.

What should retail investors watch over the next month?

Track the chargesheet filing, whether the court takes cognizance, and if an FEO application is admitted. If admitted, note the six-week appearance window, any interim attachments, and steps toward confiscation and auctions. These milestones signal momentum and potential timelines for creditor recoveries.

Law and Government

PNB Scam, February 23: ED to Charge Rohan Choksi, Seek FEO Tag

ByHuzaifa Zahoor February 22, 2026

India’s Enforcement Directorate is set to file a chargesheet against Rohan Choksi in the PNB scam, the $2 billion fraud that hit Punjab National Bank in 2018. The agency may also seek a Fugitive Economic Offender tag, stepping up pressure on the Choksi family. For investors, stronger enforcement can speed asset recovery and support sentiment for public sector lenders. We break down what ED’s next steps mean, how the FEO process works, and what signals to watch as markets price governance, timelines, and potential recoveries linked to the PNB scam.