Recovery Has Started From Mallya, Nirav Modi, And Mehul Choksi

Recovery has started from Vijay Mallya, Nirav Modi, and Mehul Choksi. Big success on Mallya, Nirav Modi, and Choksi: ED returns Rs 9,371 cr to banks.

Recovery has started from Vijay Mallya, Nirav Modi, and Mehul Choksi. The Enforcement Directorate (ED) has transferred a part of their seized assets to public sector banks and the Centre.

According to the ED, assets worth Rs 18,170.02 crore of these people were attached, out of which assets worth Rs 9,371.17 crore have been transferred to banks and the central government.

According to the ED, in the Vijay Mallya and PNB Bank fraud cases, 40 percent of the number of banks was recovered through the sale of shares seized under PMLA.

These three fugitives had duped a total of Rs 22,586 crore by misappropriating huge amounts from banks.

Choksi and his nephew Nirav Modi are accused of allegedly defrauding Punjab National Bank (PNB) to the tune of Rs 13,500 crore in connivance with some bank officials.

Nirav Modi is currently lodged in a London jail. The Central Bureau of Investigation (CBI) is investigating both.

At the same time, Mallya had grabbed more than 9000 crores from other banks including SBI. This fraud was done in the name of a loan.

Meanwhile, Antigua and Barbuda’s Prime Minister Gaston Browne has said he is not aware of “conclusive evidence” regarding the kidnapping of diamond merchant Mehul Choksi.

But it is publicly known that Choksi was kidnapped and law enforcement agencies in their investigations may have found people who may have information in this regard.

Choksi is wanted in India in a case of loan fraud of about Rs 13,500 crore from state-run Punjab National Bank.

He has been living as a civilian in Antigua and Barbuda since 2018 and mysteriously went missing on 23 May.

Brown said that I am not aware of the evidence, but there is information in the public domain that Mehul Choksi was kidnapped.

I know the law enforcement here has investigated and they may have found people who may have had information about this.

But as far as the evidence is concerned, I am not aware that there is any conclusive evidence.