Businessmen Vijay Mallya, Nirav Modi, and Mehul Choksi, who fled abroad to whitewash Indian banks, have been hit hard. A total of Rs 9,371 crore worth of assets of the three have been transferred to banks. The Directorate of Recovery had seized assets worth Rs 18,000 crore from the three. This amounts to 80 percent of the bank’s non-performing loans. (Vijay Mallya, Nirav Modi, Mehul Choksi’s Assets Worth 9,371 Crore Transferred to State-Run Banks)
Efforts are underway to bring Vijay Mallya, Nirav Modi, and Mehul Choksi to India. All three had committed massive financial frauds by diverting money borrowed from public sector banks to their anonymous companies. The three had embezzled Rs 22,585.83 crore from the banks. However, the assets of all three have been confiscated from the ED. Out of the total assets seized, Rs 969 crore is abroad. So far, state-owned banks have recovered Rs 8,441 crore. Vijay Mallya is currently fully involved in the court battle. Nirav Modi and Mehul Choksi are currently in jail. Their repatriation movements have gained momentum.
Mallya doesn’t even have money to pay the lawyer?
Vijay Mallya is known to be completely destitute. Mallya does not have enough money to pay the lawyers due to financial blockade due to delays in court proceedings. Therefore, his lawyer has warned that if the fee is not paid on time, the case will not be fought. As a result, Mallya’s headache has increased. Mallya has fled to London after sinking crores of rupees in Indian banks. Mallya, who once squandered money, is now struggling financially. He has to keep account of thousands and lakhs of rupees in London. Sources said that his personal expenses have also come under pressure and he has no money left to pay the lawyers.