- By NET Web Desk
Following the arrest of Mehul Chowksi in Dominica, the Enforcement Directorate is now strictly focusing on the whereabouts of the two other noted fugitives – Nirav Modi and Vijay Mallya.
Nirav Modi fled to London after the PNB scam was unearthed. While Vijay Mallya, the former Rajya Sabha MP is marked in the wanted list with charges lodged against fraud and money laundering worth Rs. 9000 crore. And Mehul Chowksi fled from India after been granted legal citizenship by Dominica.
The Enforcement Directorate (ED) could transfer about 40% of the money mislaid by the banks.
With the latest sale of attached shares, ED has transferred assets of Rs. 9371.17 crore to banks which is 40% of the loss incurred.
The three fugitives cheated a consortium of banks worth Rs. 22,586 crore. Out of which 80.45%, a total of 18,170.02 crores were seized by the agency.
“ED not only attached/ seized assets worth of Rs. 18,170.02 crore (80.45% of a total loss to banks) in the case of Vijay Mallya, Nirav Modi, and Mehul Choksi under the PMLA but also transferred a part of attached/ seized assets of Rs. 9371.17 Crore to the PSBs and Central Government.” – tweeted by the Enforcement Directorate.
According to the agency, this money trail was unearthed by exposing a web of domestic and international transactions and assets stored abroad.
Mallya has been denied permission to file an appeal in the UK Supreme Court. Modi’s legal battle has also been cleared.
While Choksi is fighting a legal battle in Antigua to stop the court from sending him back to India.