40% loss offset by sale of Mallya, Nirav’s assets: ED

New Delhi, June 23

The ED said after the sale of attached shares worth over Rs 5,800 crore on Wednesday, about 40 per cent of the money lost by banks in alleged frauds perpetrated by fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi had been recovered so far.

The agency said the latest sale proceeds took the total value of recovery to Rs 9,041.5 crore or 40 per cent of the over Rs 22,000 crore allegedly defrauded by the trio.

In a tweet, Union Finance Minister Nirmala Sitharaman said, “Fugitives and economic offenders will be actively pursued, their properties attached and dues recovered.” The ED said as on date, it had attached assets worth Rs 18,170.02 crore under the money laundering Act. It said while the Debt Recovery Tribunal had sold shares worth over Rs 5,800 crore of United Breweries as part of probe against Mallya, further realisation of Rs 800 crore by sale of shares was expected by June 25. — TNS

Rs22k cr fraud by fugitive bizmen
Rs22,585.83 cr of PSU banks siphoned off by Vijay Mallya, Nirav Modi, Mehul Choksi
Rs5,800 cr worth of United Breweries Ltd shares sold on Wednesday
Rs800 cr more expected via share sale by June 25
Rs9,041.5 cr total value of recovery so far
Rs18,170.02 cr value of total assets attached
UK High Court rejects Nirav’s extradition plea