The central government has said that assets worth Rs 19,111 crore have been confiscated from businessmen Vijay Mallya, Nirav Modi and Mehul Choksi who fled abroad without repaying the bank loan.
Debt in the billions
Businessman Vijay Mallya, diamond dealer Nirav Modi and Mehul Choksi fled abroad without repaying thousands of crores in loans from public sector banks. The central government is making efforts to catch them and bring them to India. So far it has not worked.
Rs 19 thousand crore
In this context, the question was raised at the state level as to how much property had been confiscated and recovered from these three businessmen. Union Finance minister Pankaj Chaudhary replied:
Vijay Mallya, Mehul Choksi and Nirav Modi took loans from banks and fled abroad without repaying them. These 3 caused a loss of Rs 22 thousand 585.83 crore to the banks.
Confiscation
As on march 15, 2022, assets worth Rs 19,111.20 crore have been seized from these three persons under the Illegal Money Laundering Act.
Of these Rs 19 thousand 111 crore assets, Rs 15 thousand 113.19 crore assets have been sold and handed over to public sector banks. Assets worth Rs 335.06 crore are owned by the central government.
SBI Bank
As of march 15, 2022, 84.61 percent of the assets involved in the case have been confiscated. Of that, 66.91 per cent has been handed over to banks. On march 15, 2022, the Enforcement Division handed over assets worth Rs 7,975.27 crore to sbi Bank.
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