ED transfers assets of Vijay Mallya, Nirav Modi, Mehul Choksi worth Rs 9,371 crore to banks
NEW DELHI: The Enforcement Directorate (ED) on Wednesday said it has handed over seized assets worth Rs 9,371 crore belonging to fugitive businessmen Vijay Mallya, Nirav Modi, Mehul Choksi to state-run banks to realise the losses on account of the fraud committed against them.
The ED in a statement said that Mallya, Nirav Modi and Choksi have defrauded public sector banks by siphoning off the funds through their companies which resulted in total loss of Rs 22,585.83 crore to the banks.
The ED has booked the three on the basis of the FIR (first information report) filed by the Central Bureau of Investigation (CBI).
