Recovery has started from Vijay Mallya, Nirav Modi and Mehul Choksi. The Enforcement Directorate (ED) has transferred a part of his seized assets to public sector banks and the Centre. According to the ED, assets worth Rs 18,170.02 crore of these people were attached, out of which assets worth Rs 9,371.17 crore have been transferred to banks and the central government.
According to the ED, in the Vijay Mallya and PNB Bank fraud cases, 40 per cent of the amount of banks was recovered through the sale of shares seized under PMLA. These three fugitives had duped a total of Rs 22,586 crore by misappropriating huge amount from banks.
Choksi and his nephew Nirav Modi are accused of allegedly defrauding Punjab National Bank (PNB) to the tune of Rs 13,500 crore in connivance with some bank officials. Nirav Modi is currently lodged in a London jail. The Central Bureau of Investigation (CBI) is investigating against both. At the same time, Mallya had grabbed more than 9000 crores from other banks including SBI. This fraud was done in the name of loan.
Meanwhile, Antigua and Barbuda Prime Minister Gaston Browne has said he is not aware of “conclusive evidence” regarding the kidnapping of diamond merchant Mehul Choksi, but it is publicly known that Choksi was kidnapped. And law enforcement agencies in their investigations may have found people who may have information in this regard.
Choksi is wanted in India in a case of loan fraud of about Rs 13,500 crore from state-run Punjab National Bank. He has been living as a civilian in Antigua and Barbuda since 2018 and mysteriously disappeared from there on 23 May.