Business & Economics

18,000 cr Recovered From Vijay Mallya, Nirav Modi, Mehul Choksi: Govt

BP World Bureau | Feb 23 2022 07:20:31 PM
Image credits: Twitter

NEW DELHI: Indian government told the Supreme Court that the banks have recovered Rs 18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi.
Solicitor General Tushar Mehta told the SC bench, led by Justice AM Khanwilkar, that the value of cases registered under the Prevention of Money Laundering Act (PMLA) against Mallya, Modi, and Choksi is Rs 67,000 crore as of now.
"The Enforcement Directorate (ED) in the cases of Vijay Mallya, Nirav Modi and Mehul Choksi has managed to confiscate assets worth over ₹18,000 crore due to orders passed by the courts under (the) PMLA," Mehta said.
This also came amidst arguments by lawyers such as Kapil Sibal, Abhishek Manu Singhvi, Mukul Rohatgi, Sidharth Luthra, and Amit Desai, on the potential misuse of provisions introduced by way of various amendments.