ED recovers assets worth ₹ 22,280 crore. To valid claimants in PMLA cases: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman speaking in the Lok Sabha during the winter session of Parliament in New Delhi. | Photo Credit: ANI

The Enforcement Directorate has so far restored assets worth at least Rs 22,280 crore to victims or legitimate claimants in multiple cases, facilitated by Sections 8(7) and 8(8) of the Prevention of Money Laundering Act, Finance Minister Nirmala Sitharaman said. Tuesday in the Lok Sabha.

In Vijay Mallya’s case, assets worth more than ₹14,131 crore have been returned to lending public sector banks, while in the case of Bhushan Power and Steel Limited, ₹4,025 crore has been returned to JSW after the Supreme Court’s approval.

The agency has recovered ₹ 2,565 crore to various banks in the case of diamond businessman Mehul Choksi and others and ₹ 1,052.58 crore in the case against his nephew Nirav Modi. In the Hira Group case, the Supreme Court had in November 2024 directed the ED to auction two properties worth Rs 201 crore to settle investors’ claims. Additionally, the court directed the main accused to deposit Rs 25 crore in the ED account for the same purpose.

In the Surya Pharmaceuticals case, assets worth around ₹ 185.15 crore have been returned to the consortium of lending banks and ₹ 19.40 crore in the Rose Valley Group case to investors through the Asset Settlement Committee.

In the SRS Group case, the ED has facilitated the return of 78 flats worth ₹ 20.15 crore to home buyers, while in the Rashtriya Spot Exchange Limited case ₹ 17.47 crore has been returned to genuine investors. Property worth ₹ 12.73 crore has been allowed to be released by a special court in a case involving Naidu Amritesh Reddy and others.

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