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.
Earlier on Wednesday, Vijay Mallya had offered to pay back the full amount of the principal loan he owed various banks.
The 62-year-old former Kingfisher Airlines boss, who has been on bail on an extradition warrant since his arrest in April last year, is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores.
As each layer is unpeeled of the multi-dimensional mess in which the Central Bureau of Investigation is plunged, the closer…
The flamboyant Mallya formed the unlisted company (URBBL) in 1988 to bring under a single banner his growing interest in racing and breeding horses.
He demanded the immediate sacking of Jaitley and an independent probe into his alleged "collusion, connivance and conflict of interest".
