Rs 14,131.6 cr recovered from sale of Vijay Mallya’s assets: Sitharaman
The Finance Minister informed the Lok Sabha that the Enforcement Directorate (ED) has been successful in recovering assets from several high-profile economic offenders.
Liquor baron Vijay Mallya was arrested by the Scotland Yard in London on Tuesday following India’s request for his extradition in financial irregularities and loan default case. Mallya owes Rs 9,000 (including taxes) to 17 banks in India.
These banks are trying to recover some of the huge loan amount by auctioning his properties in the country.
Advertisement
The recently held auction of Mallya’s mansion in Goa is a recent example of the banks’ efforts to recover loans. Businessman Sachiin Joshi bought the villa for Rs 73.01 crore.
Advertisement
State Bank of India (SBI), Punjab National Bank (PNB) and IDBI banks are among the major lenders to Mallya which are waiting for loan repayment.
According to reports, following is the list of 17 banks that have paid nearly Rs 7,000 crore (excluding interest) to Mallya:
| Bank name | Amount |
| SBI | Rs.1,600 cr |
| PNB | Rs.800 cr |
| IDBI Bank | Rs.800 cr |
| Bank of India | Rs.650 cr |
| Bank of Baroda | Rs.550 cr |
| United Bank of India | Rs.430 cr |
| Central Bank | Rs.410 cr |
| UCO Bank | Rs.320cr |
| Corporation Bank | Rs.310 cr |
| State Bank of Mysore | Rs.150 cr |
| Indian Overseas Bank | Rs.140 cr |
| Federal Bank | Rs.90 cr |
| Punjab & Sind Bank | Rs.60 cr |
| Axis Bank | Rs.50 cr |
| Other banks | Rs.603cr |
Advertisement
