ED transfers assets of Vijay Mallya, Nirav Modi, Mehul Choksi worth ₹8,441.50 cr. to banks

Spread the love

The Enforcement Directorate has transferred assets worth ₹8,441.50 crore to public sector banks that suffered losses to the tune of ₹22,585.83 crore due to frauds committed allegedly by Vijay MallyaNirav Modi and Mehul Choksi. All three accused had fled overseas.

The agency said it recently transferred attached shares worth ₹6,600 crore to a State Bank of India-led consortium as per an order of PMLA Special Court, Mumbai.

On Wednesday, the Debt Recovery Tribunal, on behalf of the consortium, sold the shares of United Breweries Limited for ₹5,824.50 crore. Further realisation of ₹800 crore by sale of shares is expected by June 25.

Post Disclaimer

Disclaimer: ED transfers assets of Vijay Mallya, Nirav Modi, Mehul Choksi worth ₹8,441.50 cr. to banks - Views expressed by writers in this section are their own and do not necessarily reflect Latheefarook.com point-of-view

Leave a Reply

Your email address will not be published.