Assets worth Rs. 18,170 crore seized from Vijay Mallya, Nirav Modi and Mehul Choksi

Rs. 8,441 crore returned to the banks

New Delhi – The Enforcement Directorate (ED) has seized assets worth Rs. 18,170 crore from the scammers Vijay Mallya, Nirav Modi, Mehul Choksi. This amount is 80.45 % of the total loss to the banks. A substantial amount of the seized wealth including Rs. 9,371 crore has been handed over to the State-run banks and the Central Government. Vijay Mallya, Nirav Modi and Mehul Choksi have been declared fugitive economic offenders and are at present out of India. India has sent extradition requests to the respective countries in which they are currently residing.

देश के तीन सबसे बड़े भगोड़ों, विजय माल्या, नीरव मोदी और मेहुल चोकसी के मामले में सरकारी बैंकों की बड़ी मुश्किल आसान हुई है#ED #Assets @capt_ivane https://t.co/T1YqmHlZc7

— Zee News Crime (@ZeeNewsCrime) June 23, 2021

The total loss to the banks is Rs. 22,585 crore

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 (@dir_ed) June 23, 2021

Investigation by the ED has revealed that Vijay Mallya, Nirav Modi and Mehul Choksi have defrauded the banks which resulted in a total loss of Rs. 22,585 crore. Mehul Choksi alone has defrauded the Punjab National Bank for amount worth Rs. 13,500 crore. ED has seized total assets worth Rs. 18,170 from all three of them. The assets worth Rs. 969 crore are located in foreign countries. As of now, Rs.8,441 crore have been returned to the Government banks.