Banks Recover Rs 13,100 Crore From Mallya, Modi & Choksi
Nirmala Sitharaman informed that banks have recovered Rs 13,109.17 crore out of Rs 22,000 crore due from Vijay Mallya, Nirav Modi, Mehul Choksi
Vijay Mallya’s Kingfisher Airlines owes a total of Rs 9,000 crore to State Bank of India (SBI) and other banks of India. Mallya fled the country to the United Kingdom and the Indian banks and government were trying hard to recover the money. While Nirav Modi and Mehul Choksi, owe Rs 13,000 crore to Punjab National Bank (PNB), Choksi ran away to Antigua and Modi is in the United Kingdom. In total India had to recover Rs 22,000 crore from Mallya, Modi and Choksi. Finance Minister Nirmala Sitharaman on Monday 20th December 2021 said according to the Enforcement Directorate as of July 2021, banks have recovered Rs 13,109.17 crore out of Rs 22,000 crore by selling assets of the 3 conmen. She added, “Government banks are now recovering money from all those who ran away after taking loans. The banks are bringing all the money back and putting it back in the banks so Banks are safer today.”
In another news, The Consortium of Investigative Journalists (ICIJ) in 2016, named several world leaders, corporate people and celebrities who allegedly stashed away money abroad in offshore companies. This investigation was called the Panama Papers. There were 426 Indians who were also named in the leak. One of them was Amitabh Bachchan. The ED has been probing the case linked to Bachchan since 2016-17. They had earlier issued notices to the entire family, asking them to explain their foreign investments since 2004. Now in connection with this, Bollywood actress Aishwarya Rai Bachchan was summoned by the Enforcement Directorate (ED) on Monday 20 December. This was not the first time that the actress was summoned in the case by the ED. The agency has summoned Rai Bachchan earlier on two occasions. However, she sought time to appear before the ED and didn't join the probe at that time. Also weeks ago, Aishwarya Rai Bachchan's husband Abhishek Bachchan was also questioned by the ED.
