The Enforcement Directorate (ED) has attached assets worth Rs 9371.17 crore to public sector banks that have suffered losses due to financial frauds perpetrated by fugitive businessmen Vijay Mallya, Mehul Choksi and Nirav Modi. has been transferred.
According to the report, the property of the three absconding accused will be compensated for the loss due to their fraud. The total assets attached by the Enforcement Directorate is Rs 18,170.02 crore.
ED has given this information by tweeting on Wednesday. The financial probe agency said that the Enforcement Directorate has not only attached assets worth Rs 18,170.02 crore in the case of Vijay Mallya, Nirav Modi and Mehul Choksi under the PMLA.
The ED said that the seized assets worth Rs 18,170.02 crore accounted for 80.45 per cent of the total loss caused to the banks. Also, the agency said that a part of the attached/confiscated assets worth Rs 9,371.17 crore has also been transferred to PSB and the central government.
According to the report, Vijay Mallya, Nirav Modi and Mehul Choksi together defrauded Indian public sector banks to the tune of Rs 22,585 crore. Out of which assets worth Rs 18,170 crore of these three have been seized by the ED. This is 80.45 per cent of the total loss.
The ED said that in the Vijay Mallya and Punjab National Bank fraud cases, 40 per cent of the amount of the banks was recovered through the sale of the shares seized under the PMLA.
Let us tell you that Vijay Mallya, the owner of the defunct Kingfisher Airlines, is facing court cases there for extradition from the UK to India and is currently out on bail. In the year 2019, the then UK Home Secretary approved his extradition.
At present, the Indian investigative agency ED and the CBI were investigating the case when Mallya fled India on March 2, 2016, after which the banks moved the Debt Recovery Tribunals against the accused. In January 2019, Mallya was declared a fugitive economic offender.
At the same time, Mehul Choksi and Nirav Modi fled India in January 2018 in a fraud case of taking loans from Punjab National Bank of Rs 13,500 crore. Choksi is currently lodged in a prison in Dominica, while Modi is lodged in a UK jail.
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