Bank fraud; ED transferred 18,170 crore assets of Vijay Mallya, Neerav Modi, and Mehul Choksi to banks

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New Delhi: The Enforcement department has transferred the asset of fugitive businessmen Vijay Mallya, Neerav Modi, and Mehul Choksi who committed financial fraud from banks.  Authorities had earlier seized assets worth Rs 18,170 crore from the accused. The properties of Vijay Mallya, Neerav Modi, and Mehul Choksi were confiscated. Of this, assets worth Rs 9,371 crore were handed over to the banks and the Center.

The value of the confiscated property of the accused is 80.45 percent of the amount lost to the banks through fraud. The concerned banks will get Rs 8,445 crore.

Banks incurred a loss of Rs 22,585.83 crore due to the escape of the three accused in the loan scam.