The central probe agency said that this amount was obtained by selling some shares in Mallya’s name under the Prevention of Money Laundering Act.
Another Rs 792 crore has been transferred to the accounts of banks led by State Bank of India (SBI), which gave loans to fugitive businessman Vijay Mallya. The Enforcement Directorate (ED) gave this information on Friday. The central probe agency said that this amount was obtained by selling some shares in Mallya’s name under the Prevention of Money Laundering Act.
The ED claimed that 58 per cent of the damages in the alleged bank fraud cases committed by fugitive businessmen Nirav Modi, Mehul Choksi and Mallya have been recovered. In the Vijay Mallya case, Rs 792.11 crore was recovered through sale of shares of Kingfisher Airlines to SBI-led group, the ED said in a statement. These shares were handed over by the Enforcement Directorate to the lender banks led by SBI.
Share was attached under PMLA
These shares were attached by the ED under the Prevention of Money Laundering Act (PMLA). In the same case last month, a group of banks had received Rs 7,181 crore through the sale of shares.
The ED and CBI are probing the Rs 9,000 crore alleged bank fraud against Mallya, who fled to the UK, linked to his now defunct Kingfisher Airlines.
9000 crore loan
Vijay Mallya is accused of non-payment of loans of about Rs 9,000 crore taken from several banks. These shares were sold by the Debt Recovery Tribunal (DRT) on June 23 after the Enforcement Directorate transferred UBL shares worth about Rs 6,624 crore to SBI-led banks. The ED had attached these shares under the Prevention of Money Laundering Act (PMLA).
Mallya denied permission to reach UK Supreme Court
Presently Vijay Mallya has been arrested in London, Nirav Modi in London jail and Mehul Choksi in Dominica. The PMLA investigation is over and the ED has filed a case against all three. Extradition requests have been sent to the UK and Antigua-Barbuda to bring the three to India. Westminster Court approves Mallya’s extradition. It has also been approved by the UK High Court. Mallya has not been allowed to file a petition in the UK Supreme Court, due to which he will be brought to India very soon.
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