A SBI-led consortium on Friday realised Rs 792.11 crore by sale of shares in Kingfisher Airlines in connection with a money laundering probe against Vijay Mallya. These shares were handed over by the Enforcement Directorate (ED) to the consortium.
Earlier, the SBI-led consortium had realized Rs 7,181.50 crore by liquidating assets handed over to the bank consortium by the ED, the ED said.
In addition, Rs 1,060-crore worth assets have been allowed to the banks by Fugitive Economic Offences Court in PNB/ Nirav Modi Case, Rs 329.67 crore has been confiscated by ED under provisions of FEOA, it said.
On July 1, 2021, Purvi Modi (sister of Nirav Modi) transferred Rs 17.25 crore from proceeds of crime from her foreign bank account to the ED, the agency further said.
Few days back, the ED has further handed over assets worth Rs 3,728.64 crore to the SBI-led consortium including shares of Rs 3,644.74 crore, Demand Draft of Rs 54.33 crore and immovable properties worth Rs 29.57 Crore. Vijay Mallya, Nirav Modi and Mehul Choksi who have defrauded Public Sector Banks by siphoning off the funds through their companies which resulted in total loss of Rs 22,585.83 crore to the banks, it said.
Till date, ED has transferred assets worth Rs 12,762.25 crore to the Public Sector Banks and confiscated assets of RRs 329.67 crore.
The ED had also recovered Rs 17.25 crore from Purvi Modi. As on date, assets worth 58 per cent of total loss to the banks have been handed over to banks/government. The ED has attached/seized assets worth Rs 18,217.27 crore under the provision of PMLA, it added.