Assets worth ₹19K cr of Mallya, Choksi, Nirav Modi attached
NEW DELHI: Assets worth ₹19,111.20 crore relating to fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, have been attached so far, the government said on Tuesday.
Mallya, Choksi and Modi have defrauded public sector banks by siphoning off funds through their companies resulting, leading to a combined loss of ₹22,585.83 crore to the lenders, minister of state for finance Pankaj Chaudhary said in a written reply in the Rajya Sabha.
“As on March 15, 2022, assets worth ₹19,111.20 crore have been attached under the provisions of the Prevention of Money Laundering Act,” he said.
Out of the ₹19,111.20 crore, assets worth ₹15,113.91 crore have been restituted to public sector banks.
The minister also said that assets worth ₹335.06 crore have been confiscated by the central government.
“As on March 15, 2022, 84.61% of the total defrauded funds in these cases have been attached/ seized and 66.91% of the total loss to the banks has been handed over to banks/ confiscated by the government of India,” Chaudhary said.
The minister further said that as on March 15, 2022, the consortium of banks led by the State Bank of India (SBI) has realised ₹7,975.27 crore by sale of assets handed over to them by the directorate of enforcement.
These actions have been taken in line with the provisions of the Prevention of Money Laundering Act, 2002, and the Fugitive Economic Offenders Act, 2018, under which the special court trying the offence may restore any asset involved in money laundering to a third party claimant with legitimate interest, including banks.