Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman
5 days, 14 hours ago

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman

New Indian Express  

NEW DELHI: Finance Minister Nirmala Sitharaman has listed several major cases where the Directorate of Enforcement has from time to time attached properties of individuals and companies connected to economic offence cases. Replying to the debate on Supplementary Demands for Grants - First Batch for 2024-2025, the finance minister apprised the Lok Sabha Tuesday evening that the central enforcement agency has successfully restored properties worth around Rs 22,280 crores -- only the major cases included. Of those restored, the complete attached property worth Rs 14,131.6 crores of fugitive businessman Vijay Mallya has been restored to the public sector banks, the minister said in Lok Sabha. In National Spot Exchange Ltd scam, Rs 17.47 crores have been obtained and given to the banks, SRS Group worth Rs 20.15 crores, Rose Valley Group worth Rs 19.40 crores, Surya Pharmaceuticals Ltd worth Rs 185.13 crores, Nowhera Sheikh and Others worth Rs 226 crores, Naidu Amrutesh Reddy and Others worth Rs 12.73 crores.

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History of this topic

ED restores Rs 22,000 crore of assets from Vijay Mallya, Nirav Modi: Minister
5 days, 14 hours ago

ED restores Rs 22,000 crore of assets from Vijay Mallya, Nirav Modi: Minister

India Today  

Union Finance Minister Nirmala Sitharaman on Tuesday revealed that the Enforcement Directorate has successfully restored assets worth Rs 22,280 crore to victims and rightful claimants, asserting the government's relentless commitment to combating economic offenders. The Finance Minister pointed out that among the major cases, the ED has recovered properties valued at Rs 14,131.6 crore belonging to fugitive businessman Vijay Mallya, …

ED Retrieved Properties Worth Rs 14,131 Cr From Vijay Mallya, 1,052 Cr From Nirav Modi: Nirmala Sitharaman In Lok Sabha
6 days, 3 hours ago

ED Retrieved Properties Worth Rs 14,131 Cr From Vijay Mallya, 1,052 Cr From Nirav Modi: Nirmala Sitharaman In Lok Sabha

ABP News  

Finance Minister Nirma Sitharaman on Tuesday said the Enforcement Directorate has successfully retrieved properties worth Rs 22,280 crores from economic offenders, including Rs 14,131 crore from Vijay Mallya and Rs 1,052 from Nirav Modi. In Vijay Mallya case, 14,131.6 crore has been recovered and the complete amount of the attached property has been restored to the public sector banks." "In …

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case
Trending News
1 week, 6 days ago

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case

India Today  

The Enforcement Directorate, Mumbai, has successfully handed over properties worth more than Rs 125 crore to the liquidator of Gitanjali Gems Ltd. Following an application supported by the ED, the Special PMLA Court in Mumbai approved the monetisation of properties worth Rs 2,565.90 crore linked to Mehul Choksi. PROPERTIES HANDED OVER As per the court’s order, ED initiated the transfer …

PNB moves court, seeks release of Nirav Modi’s properties worth ₹71.16 crore
1 year, 5 months ago

PNB moves court, seeks release of Nirav Modi’s properties worth ₹71.16 crore

Hindustan Times  

The Punjab National Bank on Wednesday filed a petition before the special PMLA court seeking release of fugitive diamond trader Nirav Modi’s properties worth ₹71.16 crore which had been attached by the Enforcement Directorate. PNB moves court, seeks release of Nirav Modi’s properties worth ₹ 71.16 crore The agency is probing the ₹13,850-crore loan fraud at the public sector bank. …

Top news of the day, January 31, 2023
1 year, 10 months ago

Top news of the day, January 31, 2023

The Hindu  

Economic Survey 2022-23 | Indian economy to grow 6-6.8% next fiscal year Union Finance Minister Nirmala Sitharaman tabled the Economic Survey for the Financial Year 2022-23, after the President’s address, on the first day of the Union Budget Session 2023-24. Economic Survey 2022-23 | India can enhance GDP growth if ‘LIC’ is dismantled The Economic Survey 2022-23 has recommended “entirely” …

Excise policy 'scam' | Enforcement Directorate attaches ₹76.54 crore worth assets under PMLA
1 year, 10 months ago

Excise policy 'scam' | Enforcement Directorate attaches ₹76.54 crore worth assets under PMLA

The Hindu  

The Enforcement Directorate on Wednesday, January 25, 2023, has attached assets worth ₹76.54 crore of several persons and entities in connection with the money laundering probe into the Delhi excise policy case allegedly involving Delhi Deputy Chief Minister Manish Sisodia and others. According to the agency, the attachment order includes properties worth ₹35 crore of accused Sameer Mahandru and his …

Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years ago

Banks write off loans worth Rs 11.17 lakh crore in last 6 years

Deccan Chronicle  

NEW DELHI: Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. "As per RBI data, public sector banks and scheduled commercial banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," …

BS-IV vehicle scam: ED attaches properties of J.C. Prabhakar Reddy and Jatadhara Industries worth ₹22.10 crore in Andhra Pradesh
2 years ago

BS-IV vehicle scam: ED attaches properties of J.C. Prabhakar Reddy and Jatadhara Industries worth ₹22.10 crore in Andhra Pradesh

The Hindu  

The Enforcement Directorate on November 30 attached the properties of Tadipatri Municipality Chairman and Telugu Desam Party former MLA J.C. Prabhakar Reddy and his close associate C. Gopal Reddy valued at ₹22.10 crore in connection with the BS-III vehicles scam which came to light in 2020. Movable properties including bank balances, cash, jewellery, and receivables were valued at ₹6.31 crore, …

ED attaches gems, bank deposits worth over Rs 253 crore of Nirav Modi group in Hong Kong
2 years, 5 months ago

ED attaches gems, bank deposits worth over Rs 253 crore of Nirav Modi group in Hong Kong

Firstpost  

Nirav Modi, is presently lodged in a UK jail and has lost his extradition plea to India in connection with the USD 2-billion PNB fraud case that is being investigated by the CBI New Delhi: The Enforcement Directorate Friday said it has attached gems, jewellery and bank deposits worth Rs 253.62 crore of some Hong Kong-based companies of fugitive diamond …

DHFL diverted funds worth over Rs 14,683 crore through nine real estate firms, says CBI
2 years, 5 months ago

DHFL diverted funds worth over Rs 14,683 crore through nine real estate firms, says CBI

Firstpost  

The funds were part of Rs 42,871 crore of public money raised from banks that were allegedly misappropriated by DHFL, officials said New Delhi: DHFL allegedly diverted funds worth over Rs 14,683 crore through nine real estate firms controlled by then chairman-cum-managing director Kapil Wadhawan, director Dheeraj Wadhawan and businessman Sudhakar Shetty, where they had financial interests, the CBI has …

Rs 18,000 cr returned to banks from Vijay Mallya, Nirav Modi, Choksi: Govt tells SC
2 years, 10 months ago

Rs 18,000 cr returned to banks from Vijay Mallya, Nirav Modi, Choksi: Govt tells SC

India Today  

The government has informed the Supreme Court that Rs 18,000 crore have returned to banks from Vijay Mallya, Nirav Modi, and Mehul Choksi. Solicitor General Tushar Mehta told the bench that in money laundering cases relating to Vijay Mallya, Mehul Choksi, and Nirav Modi, the Enforcement Directorate has confiscated around Rs 18,000 crore by the orders of the courts following …

Rs 18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi
2 years, 10 months ago

Rs 18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi

Op India  

The Central Government has told to the Supreme Court that Rs 18000 crore have been returned to the banks which were stifled by fugitives Vijay Mallya, Nirav Modi, and Mehul Choksi until now. While comparing the numbers with the global data, Tushar Mehta added, “very small number of cases are being taken up for investigation under the PMLA as compared …

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government
2 years, 10 months ago

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government

Hindustan Times  

Banks have recovered ₹18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, Solicitor General Tushar Mehta told the Supreme Court on Wednesday. Mehta told the top court bench, led by Justice AM Khanwilkar, that the value of cases registered under the Prevention of Money Laundering Act against Mallya, Modi, and Choksi is now ₹67,000 crore. Vijay Mallya is …

Rs 18,000 crore returned to banks from Vijay Mallya, Nirav Modi, Mehul Choksi: Centre tells SC
2 years, 10 months ago

Rs 18,000 crore returned to banks from Vijay Mallya, Nirav Modi, Mehul Choksi: Centre tells SC

India TV News  

Highlights Rs 18,000 crore have been returned to the banks in the case of Mallya, Nirav, and Mehul. The top court is hearing a clutch of petitions, challenging the wide scope of powers available to ED Solicitor General Tushar Mehta on Wednesday informed the Supreme Court that Rs 18,000 crore have been returned to the banks in the case of …

13k cr recovered from asset sale of Nirav Modi, Vijay Mallya: FM
3 years ago

13k cr recovered from asset sale of Nirav Modi, Vijay Mallya: FM

Op India  

Union Finance Minister Nirmala Sitharaman on Monday informed how banks have collected roughly Rs 13,109 crore from asset sales of defaulters such as fugitive diamantaire Nirav Modi, Mehul Choksi, and erstwhile liquor baron Vijay Mallya. Fugitive businessman and prime accused in the Rs 14,000 crore PNB scam, Nirav Modi is currently lodged in the Wandsworth jail in southwest London and …

Banks recovered ₹13,100 crore from assets sale of defaulters like Vijay Mallya, Nirav Modi: Nirmala Sitharaman
3 years ago

Banks recovered ₹13,100 crore from assets sale of defaulters like Vijay Mallya, Nirav Modi: Nirmala Sitharaman

Hindustan Times  

Finance Minister Nirmala Sitharaman on Monday said that banks have recovered ₹13,109.17 crore from asset sale of fugitives like Vijay Mallya, Nirav Modi and Mehul Choksi. Of which, she said, ₹2.99 lakh crore is the additional cash outgo because of big ticket expenditure going for Air India and rise in fertilizer subsidy due to firming up of global prices. As …

Properties worth Rs 500 crore of Nirav Modi firms restored to PNB
3 years, 3 months ago

Properties worth Rs 500 crore of Nirav Modi firms restored to PNB

India TV News  

A special court in Mumbai on Friday allowed 'restoration' of properties worth Rs 500 crore of fugitive jeweler Nirav Modi's firms to Punjab National Bank. This is the third such order in a span of about two weeks, with the total value of properties owned by Nirav Modi's companies being restored in this manner now standing at approximately Rs 1,000 …

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case
3 years, 5 months ago

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case

India TV News  

The State Bank of India-led consortium that lent loans to fugitive businessman Vijay Mallya on Friday received Rs 792.11 crore in its accounts after some shares, earlier attached under the anti-money laundering law, were sold, the Enforcement Directorate said. Apart from the Mallya case, the other case pertains to over Rs 13,500 crore alleged bank loan cheating in the Brady …

Explained | Will the money recovered from Vijay Mallya, Nirav Modi and Mehul Choksi help banks?
3 years, 5 months ago

Explained | Will the money recovered from Vijay Mallya, Nirav Modi and Mehul Choksi help banks?

The Hindu  

The story so far: The Enforcement Directorate on June 23 came out with a statement saying that it has seized assets worth ₹18,170.02 crore belonging to three fugitive businessmen. The seized assets belong to liquor baron Vijay Mallya and diamond traders Nirav Modi and Mehul Choksi — all three left India before law enforcement agencies could nab them for fraud. …

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered
3 years, 5 months ago

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered

India TV News  

About 40 per cent of the money lost by banks in alleged frauds perpetrated by fugitive businessmen Nirav Modi, Mehul Choksi and Vijay Mallya has been recovered so far, the Enforcement Directorate said after the sale of attached shares worth over Rs 5,800 crore on Wednesday. "The quantum of the attached and seized assets represent 80.45 per cent of the …

Assets worth Rs 18,170 crore of Vijay Mallya, Nirav Modi, Mehul Choksi attached; 80% losses recovered: ED
3 years, 6 months ago

Assets worth Rs 18,170 crore of Vijay Mallya, Nirav Modi, Mehul Choksi attached; 80% losses recovered: ED

India TV News  

The Enforcement Directorate has said that it had transferred a part of the attached or seized assets in cases related to fugitive billionaires Vijay Mallya, Nirav Modi and Mehul Choksi, to state-run banks and the Centre. Of the Rs 18,170.02 crore worth of assets seized, the ED said it has transferred Rs 9,371.17 crore to the government and public sector …

ED gives banks ₹9,371 crore assets seized from Vijay Mallya, Nirav Modi, Mehul Choksi
3 years, 6 months ago

ED gives banks ₹9,371 crore assets seized from Vijay Mallya, Nirav Modi, Mehul Choksi

Hindustan Times  

The Enforcement Directorate on Tuesday transferred assets worth ₹8,441 crore to banks who suffered losses due to frauds by Vijay Mallya, Nirav Modi and Mehul Choksi. With the latest transfer, assets worth ₹9,371 crore have been handed over to the banks so far, which amounts to 40% of their losses, the agency said. While Mallya is accused of defrauding a …

Banks in Losses After Fraud By Vijay Mallya, Mehul Choksi and Nirav Modi Get Crores in Attached Assets from ED
3 years, 6 months ago

Banks in Losses After Fraud By Vijay Mallya, Mehul Choksi and Nirav Modi Get Crores in Attached Assets from ED

News 18  

The Directorate of Enforcement has transferred attached assets worth Rs 8,441.5 crore to public sector banks who suffered losses due to fraud by fugitive businessmen Vijay Mallya, Mehul Choksi and Nirav Modi. “The agency not only seized assets worth Rs 18,170.02 crore in the case of Vijay Mallya, Nirav Modi and Mehul Choksi under PMLA but also transferred a part …

ED transfers Rs 9,000 crore of Rs 18,000 crore assets seized from Nirav Modi, Mallya and Choksi to banks
3 years, 6 months ago

ED transfers Rs 9,000 crore of Rs 18,000 crore assets seized from Nirav Modi, Mallya and Choksi to banks

India Today  

The Enforcement Directorate has seized assets worth Rs 18,170 crore, which is 80% of the total losses incurred by the banks, in cases related to fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi. The ED said on Wednesday that not only has the assets been seized, but a significant share, Rs 9,371.17 crore, has been transferred to the public …

₹2 crore to ₹18 crore in minutes? AAP, SP question Ram temple land purchase in Ayodhya
3 years, 6 months ago

₹2 crore to ₹18 crore in minutes? AAP, SP question Ram temple land purchase in Ayodhya

India Today  

A controversy has erupted over the purchase of a piece of land by the Shri Ram Janmabhoomi Teerth Kshetra in Ayodhya in March. Within "10 minutes of the purchase", alleged Pandey, the same land was sold to the Shri Ram Janmabhoomi Teerth Kshetra for Rs 18.5 crore. MAYOR, TRUSTEE SIGNED AS WITNESSES: SP SP leader Pawan Pandey said one Baba …

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues
3 years, 6 months ago

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues

India TV News  

Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India, had approached a special Prevention of Money Laundering Act court …

M-Cap of 7 of Top-10 Valued Firms Tumble Over Rs 1.41 Lakh Crore
3 years, 8 months ago

M-Cap of 7 of Top-10 Valued Firms Tumble Over Rs 1.41 Lakh Crore

News 18  

Seven of the 10 most valued firms witnessed a combined erosion of Rs 1,41,628.37 crore in market valuation last week, with IT companies taking the biggest hit. The valuation of Reliance Industries eroded by Rs 30,841.38 crore to Rs 12,26,048.07 crore and that of State Bank of India diminished by Rs 11,735.86 crore to Rs 3,03,347.55 crore. Kotak Mahindra Bank’s …

Seven of top 10 companies lose over ₹1 lakh crore in market capitalisation
3 years, 8 months ago

Seven of top 10 companies lose over ₹1 lakh crore in market capitalisation

Hindustan Times  

Seven of the 10 most valued domestic companies witnessed a combined erosion of ₹1,07,566.64 crore from their market valuation last week, with Reliance Industries accounting for around half of the losses. The market capitalisation of Bajaj Finance plunged ₹16,197.55 crore to ₹3,12,327.04 crore and that of State Bank of India went lower by ₹12,494.45 crore to ₹3,18,697.88 crore. Kotak Mahindra …

Five of Top-10 Firms Lose Rs 1,07,160 Crore in M-cap; Reliance Industries Top Laggard
4 years, 1 month ago

Five of Top-10 Firms Lose Rs 1,07,160 Crore in M-cap; Reliance Industries Top Laggard

News 18  

Five of the 10 most valued domestic firms suffered a combined loss of Rs 1,07,160 crore in market valuation last week, with Reliance Industries Ltd emerging as the biggest loser. The market valuation of Infosys fell Rs 12,948.61 crore to Rs 4,69,834.44 crore and that of ICICI Bank declined Rs 4,455.8 crore to Rs 3,31,315.58 crore. HDFC's valuation rose by …

Six of 10 top valued firms lose Rs 78,275 crore in m-cap, Reliance, TCS top losers
4 years, 4 months ago

Six of 10 top valued firms lose Rs 78,275 crore in m-cap, Reliance, TCS top losers

Deccan Chronicle  

New Delhi: Six of the 10 most valued domestic firms witnessed a combined erosion of Rs 78,275.12 crore in market valuation last week, pulled down largely by heavyweights Reliance Industries and Tata Consultancy Services. RIL's valuation plunged by Rs 20,666.46 crore to Rs 13,40,213.50 crore, taking the biggest drop among the 10 most valued firms. The market capitalisation of TCS …

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