The ED seized assets worth Rs.18,170 crore in cases related to fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi. About half of it has been transferred to the banks and Centre.
The ED not only seized the assets but also sent a significant share to the Public sector banks and the Central Government.
The total amount defrauded by Vijay Mallya, Nirav Modi and Mehul Choksi is Rs.22,585.83 crore. However, properties worth Rs.18,170 crore are attached by the ED.
The Enforcement Department said that 8,441 crore were transferred to the banks and another Rs.800 crore by sale of shares is expected by June 25.
E D said that 40% of the losses of the banks are cleared as of now. The assets worth Rs.329.76 crore were confiscated by the agency.
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