In a relief to public sector banks, the Enforcement Directorate (ED) on Wednesday said it has handed over assets worth Rs 9,371 crore belonging to fugitive businessmen Vijay Mallya, Nirav Modi, Mehul Choksi to state-run banks. The banks can now recover their money by auctioning these properties.
For the uninitiated, Vijay Mallya, Mehul Choksi and Nirav Modi fraudulently took loans from public sector banks and got this fund transferred through their companies to other accounts, causing a loss of Rs 22,585.83 crore to the public sector banks. Mehul Choksi alone defrauded Punjab National Bank of Rs 13,500 crores, whereas Vijay Mallya has done a scam of Rs 9,000 crores.
The ED has booked the three on the basis of the FIR filed by the Central Bureau of Investigation (CBI).
In a tweet on Wednesday, the probe agency said, “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 Central Government.”
ED has also said that it took swift action by unearthing myriad web of domestic and international transactions and stashing of assets abroad.
“Investigation has also irrevocably proved that these three accused persons used dummy entities controlled by them for rotation and siphoning off the funds provided by the banks,” the ED said.
It further said that the ED has attached or seized assets worth Rs 18,170.02 crore which included assets worth of Rs 969 crore located in foreign countries.
Nirav Modi has been in London Jail for last two years and three months on the basis of extradition request by India. Nirav Modi and Mallya have also been declared Fugitive Economic Offenders by PMLA Court in Mumbai, it said.
The ED also said that recently, the agency has transferred shares attached by it, worth of Rs 6,600 crore, to SBI led consortium as per order of PMLA Special Court, Mumbai.
Source: dnaindia.com