ED transfers Rs 9,371-cr assets seized from Mallya, Nirav, Choksi to PSBs
The Enforcement Directorate (ED) has transferred a portion of the assets valued at Rs 8,441 crore it had seized in connection with cases related to the three fugitive economic offenders — Vijay Mallya, Nirav Modi, and Mehul Choksi — to state-run banks.
With this, the total transfer of the attached assets stand at Rs 9,371 crore, the agency said on Wednesday. This amounts to 40 per cent of the banks’ losses, the agency clarified.
According to the federal agency, the State Bank of India (SBI)-led consortium on Wednesday recovered Rs 5,824 crore in the Mallya case by selling some United Breweries (UB) shares through the Dispute Resolution Tribunal as directed by the Prevention of Money Laundering Act (PMLA) court.
