₹9000 crore worth assets of fugitive billionaires transferred to banks

  • On Wednesday, the Enforcement Directorate (ED) announced that they have transferred ₹9317.7 crores worth assets of the fugitive businessmen Vijay Mallya, Mehul Chokshi, and Nirav Modi to the public sector banks and the central government.

  • Under the provisions of PMLA, ED has seized total assets worth ₹18,170.02 crores of these businessmen up till now. Out of the total amount, ₹9317.7 crores have been transferred to the banks and government.

  • Due to these fraudulent cases involving Vijay Mallya, Mehul Chokshi, and Nirav Modi, banks have incurred a loss of ₹22585.83 crores. Out of the total amount, 80.45% have been recovered in the form of assets.

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