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 February, UK's Home Office said the British government had signed an order to extradite Mallya.
Mallya's latest social media comments follow a recent interview in which Prime Minister Modi said that recovering an amount more than what Mallya defrauded was a big win for India.
The UK court earlier on Friday rejected Nirav Modi’s second bail application, saying there are 'substantial grounds' to believe the fugitive diamantaire will fail to surrender.
Mallya, who is facing extradition to India from the UK, said while the PSU banks bailed out Jet Airways they allowed his Kingfisher Airlines to “fail ruthlessly”.
The news of the arrest sent ripples of excitement through the ruling Bharatiya Janata Party (BJP) which dared the opposition Congress to question the developments, at the height of the 2019 parliamentary elections.
