TheEnforcement Directorate (ED) on Wednesday said it has handed over assets worthRs 9,371 crore belonging to fugitive businessmen Vijay Mallya, Nirav Modi,Mehul Choksi to state-run banks to realise the losses on account of the fraudcommitted against them.
TheED in a statement said that Mallya, Nirav Modi and Choksi have defrauded publicsector banks by siphoning off the funds through their companies which resultedin total loss of Rs 22,585.83 crore to the banks.
TheED has booked the three on the basis of the FIR filed by the Central Bureau ofInvestigation (CBI).
Thefinancial probe agency said that the ED has taken swift action by unearthingmyriad web of domestic and international transactions and stashing of assetsabroad.
"Investigationhas also irrevocably proved that these three accused persons used dummyentities controlled by them for rotation and siphoning off the funds providedby the banks," the ED said.
Itfurther said that the ED has attached or seized assets worth Rs 18,170.02 crorewhich included assets worth of Rs 969 crore located in foreign countries.
"Thequantum of the attached and seized assets represents 80.45 per cent of totalbank loss of Rs 22,585.83 crore," it said, adding that the investigationby the ED has proved that substantial part of these assets were held in thenames of dummy entities, trusts, third persons, relatives of these accused andthese entities were proxy of these accused to hold these assets.
TheED has filed charge sheets against all the three accused after completion ofPMLA investigation.
"Extraditionrequests have been sent for these persons to the UK and Antigua and Barbuda. Theextradition of Mallya has been ordered by the Westminster Magistrates Court andconfirmed by the UK High Court. Since Mallya has been denied permission to fileappeal in the UK Supreme Court, his extradition to India has becomefinal," the ED said.
Itfurther said that the Westminster Magistrates Court has ordered extradition ofNirav Modi to India.
NiravModi has been in London Jail for last two years and three months on the basisof extradition request by India.
NiravModi and Mallya have also been declared Fugitive Economic Offenders by PMLACourt in Mumbai, it said.
TheED also said that recently, the agency has transferred shares attached by it,worth of Rs 6,600 crore, to SBI led consortium as per order of PMLA SpecialCourt, Mumbai.
"Today,DRT on behalf of SBI led consortium, has sold shares of United BreweriesLimited for Rs 5,824.50 crore," it said, adding that further realisationof Rs 800 crore by sale of shares is expected by June 25.
Italso said that due to the cooperation and help extended by ED, Public SectorBanks have already recovered Rs 1,357 crore by selling the shares earlier.
"Thus,the banks shall be realising total amount of Rs 9,041.5 crore through sale of apart of assets attached/seized by ED under the provisions of PMLA," the EDsaid.
"Ason date, out of total attached or seized assets of Rs 18,170.02 crore underprovisions of PMLA, assets worth of Rs 329.67 crore has been confiscated andassets worth Rs 9,041.5 crore, representing 40 per cent of total loss to thebank have been handed over to the Public Sector banks," it added.