As much as Rs 18,000 crore have been back to Indian banks from fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi, the central government advised the Supreme Court on Wednesday, stated IANS. All three businessmen are wanted in India on fraud charges.
Solicitor General Tushar Mehta made the submission to a bench headed by Justice AM Khanwilkar that is listening to a batch of petitions difficult sure amendments to the Prevention of Money Laundering Act and the scope of the Enforcement Directorate’s powers in cases related to the law, media reported.
Mehta additionally instructed the court docket that the whole quantum of fraud in the money laundering cases pending before Supreme Court is Rs 67,000 crore. The solicitor generic additionally instructed the court docket that as of Wednesday, 4,700 money laundering instances have been being probed by the Enforcement Directorate.
The Rs 18,000 crore quantity cited by means of Mehta on Wednesday is almost Rs 5,000 crore greater than what the banks had recovered from fraudsters until July closing year.
On December 21, Finance Minister Nirmala Sitharaman had informed Lok Sabha that Indian banks have recovered Rs 13,109 crore via promoting the property of fugitive businessmen such as Modi and Mallya.
“The cutting-edge recovery was Rs 792 crore from the sale of belongings belonging to Vijay Mallya and others on July 16, 2021,” she had said.
Modi is accused of duping the Punjab National Bank of greater than Rs 13,000 crore. Choksi, who is Modi’s uncle, is additionally a high accused in the case. Meanwhile, Mallya owes Rs 9,000 crore to a consortium of banks led via the State Bank of India in a fraud case involving the now-defunct Kingfisher Airlines.
