Banking Business Maharashtra

Seized assets worth 9,371 cr of Mallya-Choksi-Nirav Modi transferred to banks: ED

(G.N.S) Dt. 23


Seized assets worth 9,371 crore belonging to fugitive businessmen Vijay Mallya, Nirav Modi, Mehul Choksi were transferred to state-run banks by Enforcement Directorate (ED) to realise the losses on account of the fraud committed against them.

The ED in a statement said that Mallya, Nirav Modi and Choksi have defrauded public sector banks by siphoning off the funds through their companies which resulted in total loss of Rs 22,585.83 crore to the banks.

Related posts

Siddhartha Mohanty appointed as MD of LIC for a period ending 30.06.2023


Indian equity benchmarks ended higher on Wednesday on the back of gains in information technology (IT) stocks, with analysts expecting sector bellwether Infosys to report a jump in quarterly profit after market close.


Market close: Sensex up by 393.83 points, Nifty at 14,644.70


Leave a Comment