Vijay Mallya, Nirav Modi, Mehul Choksi's assets worth Rs 9,371 crore transferred to banks
New Delhi, June 23: Assets worth Rs 9,371 crore belonging to fugitive businessmen Vijay Mallya, Nirav Modi, Mehul Choksi have been transferred to state-run banks, who suffered losses, on account of the fraud committed against them.
Total assets worth Rs 18,170.02 crore has been seized by the Enforcement Directorate so far, 80% of which is the the total bank loss. Of which, 40 per cent of the total loss to the bank have been handed over to the Public Sector banks.
"The agency not only seized assets worth Rs 18,170.02 crore (80.45% of total loss to banks) in the case of Vijay Mallya, Nirav Modi and Mehul Choksi under PMLA but also transferred a part of attached/seized assets of Rs 9,371.17 crore to the PSBs and central government," ED said.
Vijay Mallya is an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines.
A consortium of 17 banks that gave Mallya loans, led by State Bank of India, had sought restoration of his properties seized by the ED.
Nirav Modi and Mehul Choksi
Choksi and his nephew Nirav Modi had fled India in the first week of January, 2018, weeks before the scam in the Punjab National Bank rocked the Indian banking industry.
Nirav Modi escaped to Europe and was finally held in London where he is contesting his extradition to India, while Choksi took citizenship of Antigua and Barbuda in 2017 where he was staying since his escape from Delhi.
Choksi, 62, had mysteriously gone missing on May 23 from Antigua and Barbuda. He was detained in neighbouring island country Dominica on May 23 for illegal entry after a possible romantic escapade with his rumoured girlfriend.
His lawyers alleged that he was kidnapped from Jolly Harbour in Antigua by policemen looking like Antiguans and Indians and brought to Dominica on a boat.