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.
The Finance Minister informed the Lok Sabha that the Enforcement Directorate (ED) has been successful in recovering assets from several high-profile economic offenders.
Intolerance of economic crimes is not unique to India; Bernard Madoff the mastermind of the largest known Ponzi scheme, worth an estimated $18 billion, was sentenced by a US court to 150 years in prison, making people wonder if financial fraud was worse than violent crimes like rape and murder.
The engagement took place during a Halloween party, and Sidhartha shared the special moment with his followers on Instagram.
Mallya is currently in the United Kingdom and is being charged with a bank debt default case involving his defunct Kingfisher Airlines that involves over Rs 9,000 crore.
Out of which, assets worth Rs 15,113.91 crore have been restituted to the Public Sector Banks. In addition, assets worth Rs 335.06 crore have been confiscated by the government.
In a Right to Information or RTI response to activist Saket Gokhale released on Tuesday, the RBI said that outstanding loans amounting to Rs 68,607 crore taken out by the 50 firms have been written off till September 30, 2019.
A consortium of Indian public sector banks led by the State Bank of India had sought a bankruptcy order against Vijay Mallya as part of efforts to recoup around GBP 1.145 billion of unpaid loans from him.
Mallya said that he had made offers to return the outstanding dues many times but neither the banks nor the Enforcement Directorate were cooperating.
'Leave it to Virat and give him the freedom,' Mallya suggested.
Pendency of the case is not a ground for holding any case anywhere in the world, the top court said.
