Vijay Mallya, Nirav Modi, Mehul Choksi’s attached assets worth Rs 9,371 crore to PSU banks
Vijay Mallya, Nirav Modi, Mehul Choksi
- Vijay Mallya had absconded with a loan of Rs 9000 crore from banks.
- Nirav Modi and Mehul Choksi have cheated PNB of thousands of crores.
- Nirav Modi and Mehul Choksi are also absconding from the country.
New Delhi: The Enforcement Directorate (ED) on June 23 said it has transferred a part of the assets attached or seized in cases involving fugitive billionaires Vijay Mallya, Nirav Modi and Mehul Choksi to state-run banks and the central government. Of the assets worth Rs 18,170.02 crore seized, the ED said it has transferred Rs 9,371.17 crore to the central government and state-run banks.
The ED in a tweet said that the ED has attached/attached properties of not only Rs 18,170.02 crore (80.45% of the total loss to the banks) but also Rs 9,371.17 crore in the case of Vijay Mallya, Nirav Modi and Mehul Choksi under PMLA. A part of the attached/confiscated property was also transferred to the banks and the central government.
In the Punjab National Bank scam and fraud cases involving fugitive businessman Vijay Mallya’s defunct Kingfisher Airlines, 40% of the losses suffered by banks under the Prevention of Money Laundering Act (PMLA) have been recovered. The ED said the Debt Recovery Authority (DRT) on Wednesday sold over Rs 5,800 crore shares of United Breweries Limited (UBL) on behalf of the State Bank of India-led consortium, which had been loaned money to Mallya, formerly known as the agency. was attached under the provisions of PMLA.
The attachment was earlier made by the ED as part of its criminal probe against 65-year-old Mallya, who is now in the UK and his plea against extradition to India has been rejected.
The ED said that before the DRT action, the agency, on the directions of a special PMLA court in Mumbai, transferred the attached shares of UBL worth around Rs 6,600 crore to the SBI-led consortium by it. It said that Mallya and fugitive diamantaires Nirav Modi and Mehul Choksi involved in the PNB scam cheated public sector banks by diversion of funds through their companies, causing a total loss of Rs 22,585.83 crore to the banks.
The ED has attached the assets under the Prevention of Money Laundering Act (PMLA). The ED said it unearthed the money trail by unearthing a web of domestic and international transactions and hiding assets abroad. The investigation revealed that the three accused, in turn, used fake entities controlled by them and embezzled funds provided by the banks.
Mallya was the owner of the now defunct Kingfisher Airlines and had taken loans of over Rs 9,000 crore from banks. Diamond merchants Nirav Modi and Mehul Choksi are accused in the Punjab National Bank (PNB) loan fraud case.
The ED also said that extradition requests have been sent to the countries where the three accused are residing. While Mallya and Modi live in London (UK), Choksi is living in Antigua and Barbuda after fleeing India.
#Vijay #Mallya #Nirav #Modi #Mehul #Choksis #attached #assets #worth #crore #PSU #banks