Vijay Mallya’s Assets Sale: Finance Minister Nirmala Sitharaman has cited several notable cases where the Directorate of Enforcement has seized assets of individuals and companies linked to economic offenses. Replying to the debate on Supplementary Demands for Grants, First Batch for 2024-2025, the minister told the Lok Sabha on Tuesday evening that the central enforcement agency has successfully restored properties worth around Rs 22,280 crores, only major cases included.
She further said that the government has successfully restored properties worth Rs 14,131.6 crores of fugitive businessman Vijay Mallya to public sector banks.
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Here’s Vijay Mallya’s Reaction
Fugitive businessman Vijay Mallya reacted to Finance Minister’s statement. He wrote on social media platform ‘X’, “the Debt Recovery Tribunal adjudged the KFA (Kingfisher Airlines) debt at Rs 6203 crores including Rs 1200 crores of interest.” He further wrote, “The FM announced in Parliament that through the ED, Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores, and I am still an economic offender.”
“Unless the ED and Banks can legally justify how they have taken more than two times the debt, I am entitled to relief, which I will pursue,” the fugitive businessman concluded.
What Else The Finance Minister Said?
In the case of Nirav Modi, another fugitive businessman, 1,052.58 crores have been repaid to public and private sector banks through the asset sale. Furthermore, Rs 2,565.90 crores have been repaid through the asset sale of Mehul Choksi and others, the Finance Minister said.
In National Spot Exchange Ltd (NSEL) scam, Rs 17.47 crores have been obtained and given to the banks, said the Minister. Assets worth Rs 20.15 crores from SRS Group, Rs 19.40 crores from Rose Valley Group, Rs 185.13 crores from Surya Pharmaceuticals Ltd, Rs 226 crores from Nowhera Sheikh and Others (Heera Group), and Rs 12.73 crores from Naidu Amrutesh Reddy and Others worth have also been restored.
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