Assets worth Rs 1911120 cr of Vijay Mallya Nirav Modi and Mehul Choksi attached
New Delhi Mar 22 PTI The government on Tuesday said assets worth Rs 1911120 crore relating to fugitives Vijay Mallya Nirav Modi and Mehul Choksi have been attached so far In a written reply to the Rajya Sabha Minister of State for Finance Pankaj Chaudhary said that the three fugitives have defrauded public sector banks by siphoning off funds through their companies resulting in total loss of Rs 2258583 crore to the lenders as on March 15 2022 assets worth Rs 1911120 crore have been attached under the provisions of PMLA Prevention of Money Laundering Act he said Out of Rs 1911120 crore assets worth Rs 1511391 crore has been restituted to the public sector banks In addition the minister said assets worth Rs 33506 crore have been confiscated to Government of India As on March 15 2022 8461 per cent of the total defrauded funds in these cases have been attachedseized and 6691 per cent of total loss to the banks has been handed over to banksconfiscated to Government of India Chaudhary said The minister further said that it is pertinent to mention here that as on March 15 2022 the consortium of banks led by SBI has realised Rs 797527 crore by sale of assets handed over to them by the Directorate of Enforcement Prevention of Money Laundering Act 2002 PMLA and Fugitive Economic Offenders Act 2018 FEOA provide that the Special Court trying the offence may restore any propertyassets involved in money laundering to a third party claimant with legitimate interest including banks PTI NKD CS MR
New Delhi Mar 22 PTI The government on Tuesday said assets worth Rs 1911120 crore relating to fugitives Vijay Mallya Nirav Modi and Mehul Choksi have been attached so far In a written reply to the Rajya Sabha Minister of State for Finance Pankaj Chaudhary said that the three fugitives have defrauded public sector banks by siphoning off funds through their companies resulting in total loss of Rs 2258583 crore to the lenders as on March 15 2022 assets worth Rs 1911120 crore have been attached under the provisions of PMLA Prevention of Money Laundering Act he said Out of Rs 1911120 crore assets worth Rs 1511391 crore has been restituted to the public sector banks In addition the minister said assets worth Rs 33506 crore have been confiscated to Government of India As on March 15 2022 8461 per cent of the total defrauded funds in these cases have been attachedseized and 6691 per cent of total loss to the banks has been handed over to banksconfiscated to Government of India Chaudhary said The minister further said that it is pertinent to mention here that as on March 15 2022 the consortium of banks led by SBI has realised Rs 797527 crore by sale of assets handed over to them by the Directorate of Enforcement Prevention of Money Laundering Act 2002 PMLA and Fugitive Economic Offenders Act 2018 FEOA provide that the Special Court trying the offence may restore any propertyassets involved in money laundering to a third party claimant with legitimate interest including banks PTI NKD CS MR
