Getty ImagesA consortium of banks led by the on Friday realized Rs. 792.11 crore by sale of shares in the bank loan fraud case involving and its former owner and fugitive economic offender Vijay Mallya.
These shares were handed over by the Enforcement Directorate (ED) to the consortium of banks.
Earlier SBI led consortium had realized Rs. 7181.50 crore by liquidating assets handed over to SBI led consortium by ED, the agency said in a press statement on Friday.
In addition, Rs. 1060 crore worth asset has been allowed to the banks by Fugitive Economic Offense Court in PNB/ Nirav Modi Case & Rs. 329.67 Crore has been confiscated by ED under provisions of Fugitive Economic Offenders Act, the agency added.
On July 1 Purvi Modi (sister of Nirav Modi) transferred Rs. 17.25 crore from proceeds of Crime from her foreign bank account to ED.
Few days back, ED has further handed over assets worth Rs. 3728.64 Crore to the SBI led consortium including shares of Rs. 3644.74 Crore, Demand Draft of Rs. 54.33 Crore and immovable properties worth Rs. 29.57 Crore.
The statement issued by the agency further added that Vijay Mallya, Nirav Modi and Mehul Choksi have defrauded Public Sector Banks by siphoning off the funds through their companies which resulted in total loss of Rs.22,585.83 Crore to the banks.
Till date ED has transferred assets worth Rs. 12,762.25 Crore to the Public Sector Banks and confiscated assets of Rs. 329.67 Crore. ED had also recovered Rs. 17.25 Crore from Purvi Modi. As on date, assets worth 58% of total loss to the banks have been handed over to Banks/confiscated to government of India.
The agency claimed that till date it has attached/seized assets of Rs. 18,217.27 Crore under the provision of Prevention of Money Laundering Act (PMLA).
These shares were handed over by the Enforcement Directorate (ED) to the consortium of banks.
Earlier SBI led consortium had realized Rs. 7181.50 crore by liquidating assets handed over to SBI led consortium by ED, the agency said in a press statement on Friday.
In addition, Rs. 1060 crore worth asset has been allowed to the banks by Fugitive Economic Offense Court in PNB/ Nirav Modi Case & Rs. 329.67 Crore has been confiscated by ED under provisions of Fugitive Economic Offenders Act, the agency added.
On July 1 Purvi Modi (sister of Nirav Modi) transferred Rs. 17.25 crore from proceeds of Crime from her foreign bank account to ED.
Few days back, ED has further handed over assets worth Rs. 3728.64 Crore to the SBI led consortium including shares of Rs. 3644.74 Crore, Demand Draft of Rs. 54.33 Crore and immovable properties worth Rs. 29.57 Crore.
The statement issued by the agency further added that Vijay Mallya, Nirav Modi and Mehul Choksi have defrauded Public Sector Banks by siphoning off the funds through their companies which resulted in total loss of Rs.22,585.83 Crore to the banks.
Till date ED has transferred assets worth Rs. 12,762.25 Crore to the Public Sector Banks and confiscated assets of Rs. 329.67 Crore. ED had also recovered Rs. 17.25 Crore from Purvi Modi. As on date, assets worth 58% of total loss to the banks have been handed over to Banks/confiscated to government of India.
The agency claimed that till date it has attached/seized assets of Rs. 18,217.27 Crore under the provision of Prevention of Money Laundering Act (PMLA).
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