THE DEN
Feb 23, 20221 min
|HT|
Banks have recovered ₹18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, Solicitor General Tushar Mehta told the Supreme Court on Wednesday. Mehra told the Justice AM Khanwilkar-led bench the value of cases registered under the Prevention of Money Laundering Act (PMLA) against Mallya, Modi, and Choksi is now ₹67,000 crore.
"The Enforcement Directorate (ED) in the cases of Vijay Mallya, Nirav Modi and Mehul Choksi has managed to confiscate assets worth over ₹18,000 crore due to orders passed by the courts under (the) PMLA," Mehra said.
In December Finance Minister Nirmala Sitharaman had said that as of July 2021 banks had recovered ₹13,109 crore after sale of assets belonging to the three fugitives.
At the time the latest tranche of recoveries was valued at ₹792 crore.
(Except for the headline and the pictorial description, this story has not been edited by THE DEN staff and is published from a syndicated feed.)