The Enforcement Directorate (ED) has taken a big action on the fugitives who ran away with the money of the Bank of India. The ED has so far attached properties worth Rs 18,170.02 crore of fugitive accused Vijay Mallya, Nirav Modi and Mehul Choksi. Out of this, assets worth Rs 9,371 crore were transferred by the ED to state-run banks to compensate for the loss caused by the fraud. The ED said that in the Vijay Mallya and PNB Bank fraud cases, 40 per cent of the amount of the banks was recovered through the sale of the shares seized under the PMLA.
The Enforcement Directorate said, “Under PMLA, in the case of Vijay Mallya, Nirav Modi and Mehul Choksi, not only assets worth Rs 18,170.02 crore (80.45% of the total loss caused to banks) have been attached, but a part of the seized assets worth Rs 9371.17 crore.” Also transferred to PSB and Central Govt.’
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
— ED (@dir_ed) June 23, 2021
40 per cent compensation for loss in PNB fraud cases
The ED said that in the fraud cases related to the PNB scam and fugitive businessman Vijay Mallya’s defunct Kingfisher Airlines, about 40 per cent of the amount recovered by the banks came from the sale of shares seized under PMLA. The DRT, on behalf of the Mallya-lending consortium, on Wednesday sold shares worth over Rs 5,800 crore of United Breweries Ltd (UBL), which the agency had attached under PMLA provisions.
The probe agency said Mallya, fugitive diamantaire Nirav Modi and Mehul Choksi, who were involved in the PNB scam, defrauded state-run banks by misappropriating money through their companies, resulting in a total loss of Rs 22,585.83 crore to the banks. So far, the agency has attached assets worth Rs 18,170.02 crore in these two bank fraud cases. A total of Rs 9,041.5 crore, which is 40 per cent of the total loss suffered by banks, has been handed over to public sector banks. A further recovery of Rs 800 crore from the sale of shares is expected by June 25.
read this also-
PNB MD SS Mallikarjuna said – Selling Vijay Mallya’s property will recover the outstanding loan of the bank
Big explosion outside the house of terrorist Hafiz Saeed in Lahore, Pakistan, two killed