New Delhi5 hours ago
- copy link
The country’s public sector banks (PSBs) have recovered Rs 14,131.60 crore by selling the properties of fugitive businessman Vijay Mallya, Rs 1,052.58 crore from fugitive diamond trader Nirav Modi and Rs 2,565.90 crore from Mehul Choksi and others.
Finance Minister Nirmala Sitharaman gave this information in the Lok Sabha on Tuesday. The Finance Minister said that the Enforcement Directorate i.e. ED has recovered a total of Rs 22,280 crore from some big cases only.
Vijay Mallya fled India in 2016
Businessman and former MP Vijay Mallya fled India to the UK in 2016 amid allegations of financial irregularities related to Kingfisher Airlines. On January 5, 2019, Vijay Mallya was declared a fugitive. Cases of fraud and money laundering are pending against Mallya. The Indian government is trying to bring him back to the country.
Mehul Choksi accused of scam worth more than 14 thousand crores
Mehul Choksi and Nirav Modi, former chairman of Gitanjali Gems, are accused of a scam of more than Rs 14 thousand crore in the Brady House branch of Punjab National Bank in Mumbai. The amount was transferred to foreign accounts through fake Letters of Undertakings (LOU) between 2011 and 2018 in connivance with bank officials. Right now both are out of the country.
Took citizenship of Antigua-Barbuda in 2017
Mehul Choksi had fled abroad in January 2018. Later it was revealed that he had taken the citizenship of Antigua-Barbuda in 2017 itself. Agencies like Central Bureau of Investigation (CBI) and Enforcement Directorate (ED), which are investigating this scam, are trying to extradite Choksi.
Mehul Choksi has refused to appear in India citing ill health. Sometimes his appearance takes place only through video conferencing. Many of his properties in India have also been confiscated.
