The three fugitives cheated the public sector banks of Rs 22,586 crore, out of which 80.45% ( Rs 18,170 crore) has been attached/seized by the ED, the agency said in a release.
The Enforcement Directorate (ED) said on Wednesday that it has transferred Rs 9371.17 crore to public sector banks out of the Rs 18000 crore worth assets seized, which is 80% of the total losses incurred by the banks, in cases related to fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi.
The three fugitives cheated the public sector banks of ā¹22,586 crore, out of which 80.45% ( ā¹18,170 crore) has been attached/seized by the ED, the agency said in a release.
“ED not only attached/ seized assets worth of Rs 18,170.02 crore (80.45 percent of total loss to banks) in case of Vijay Mallya, Nirav Modi and Mehul Choksi under the PMLA but also transferred a part of attached/ seized assets of Rs 9,371.17 Crore to the PSBs and Central Government,” the ED tweeted
ED not only attached/ seized assets worth of Rs. 18,170.02 crore (80.45% of total loss to banks) in case of Vijay Mallya, Nirav Modi and Mehul Choksi under the PMLA but also transferred a part of attached/ seized assets of Rs. 9371.17 Crore to the PSBs and
Central Government.— ED (@dir_ed) June 23, 2021
The ED has attached the assets under the Prevention of Money Laundering Act (PMLA).
Mallya was the owner of the now-defunct Kingfisher Airlines and owes more than Rs 9,000 crore to a consortium of banks.
Diamantaires Nirav Modi and Mehul Choksi are accused in the Punjab National Bank (PNB) loan fraud case.
The ED has transferred shares attached by it (worth Rs. 6,600 crores) to the SBI-led consortium as per the orders of the PMLA Special Court in Mumbai.
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The debts recovery tribunal (DRT) has sold shares worth over Rs 5,800 crore of United Breweries Limited (UBL) that were earlier attached under the anti-money laundering law as part of an alleged bank fraud probe against fugitive liquor baron Vijay Mallya.
The further realization of Rs 800 crore by sale of shares is expected by June 25, said the probe agency, said a report in India Today
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