Finance Minister Nirmala Sitharaman on Tuesday said that the ED has restored assets worth over Rs 22,280 crore to victims or claimants under the PMLA, and the fight against economic criminals will continue.
“In PMLA, ED has successfully recovered assets worth at least Rs 22,280 crore from major cases… We have not spared anyone, even if they fled the country, we are after them. ED has collected this amount and returned it to the banks. So we have not booked anyone for financial crimes. We are going after them. We will make sure that the money, which should go back to the bank, goes back,” she said.
She said assets worth Rs 14,131.6 crore belonging to fugitive Vijay Mallya have been returned to public sector banks.
In Nirav Modi’s case, assets worth Rs 1,052.58 crore were returned to PSBs and private banks. In the Mehul Choksi case, assets worth Rs 2,565.90 crore were attached and will be auctioned. In the National Spot Exchange Limited case, assets worth Rs.17.47 crore were returned to defrauded investors.
Why should you buy our membership?
You want to be the smartest in the room.
You want access to our award-winning journalism.
You don’t want to be confused and misinformed.
Choose your subscription package