ED fingers over shares value 792 cr to SBI-led consortium of banks from fugitives Vijay Mallya, Nirav Modi and Choksi

On Friday (July 16), a consortium of banks led by the State Bank of India (SBI) recovered ₹792.11 crores from fugitives and wilful defaulters resembling Vijay Mallya, Nirav Modi, and Mehul Choksi.
As per reviews, the banks offered the shares of the three businessmen that have been handed to them by the Enforcement Directorate (ED). The central company had confiscated their property beneath the stringent Prevention of Money Laundering Act (PMLA). According to ED, it has recovered ₹13,109.17 crores by means of the sale of its property to banks, out of ₹9,371 crores value of property was handed in June. Till date, a complete of property value ₹18,170.02 crores have been confiscated by the Enforcement Directorate, which constitutes 80.45% of the entire loss to banks.
Today, SBI led consortium has additional realized Rs. 792.11 Crore by sale of shares handed over to consortium by ED. Till date property value Rs. 13,109.17 Crore have been handed over to Bank/ confiscated to GOI in case of Vijay Mallya, Nirav Modi and Mehul Choksi.— ED (@dir_ed) July 16, 2021
The nationalised banks have been making an attempt to get better the mortgage handed out to Vijay Mallya, Nirav Modi, and Mehul Choksi. While Nirav Modi and Choksi have induced losses to the tune of 14000 crores to Punjab National Bank (PNB) and others, Vijay Mallya owes over ₹9000 crores to banks. The liquor baron had misplaced his extradition case within the United Kingdom and has not been granted an attraction within the UK Supreme Court.
Fugitive Mehul Choksi granted bail in Dominica on medical grounds
Earlier on Monday (July 12), fugitive diamantaire Mehul Choksi was given interim bail by the Dominican High Court on medical grounds. He was allowed to go to Antigua and Barbados for remedy of his neurological situation. He was granted bail till he was match for journey. Choksi was additionally requested to deposit Eastern Caribbean Dollars 10,000 (roughly Rs 2,75,000) as bail cash to hunt medical remedy. The court docket had stayed his ongoing trial over his alleged unlawful entry into Dominica on May 23 till his return.
Indian investigative businesses had sought his repatriation to India within the Rs 13,500 crore Punjab National Bank (PNB Scam) which was unearthed in February 2018. Choksi alongside together with his nephew Nirav Modi have been the prime accused. Choksi had argued that he was now not an Indian citizen as he took Antiguan citizenship in 2017.