In what can be seen a major step to tighten the noose around economic offenders, the government has approved the economic offenders ordinance. The law has strict provisions against economic offenders who run away abroad to avoid legal actions. The whole debate over economic offences emerged after Nirav Modi-PNB scam came to the fore which apparently became the biggest banking fraud of the country. Meanwhile in a major development, the Punjab National Bank has moved the Hong Kong High Court against Nirav Modi.