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Vijay Mallya fled India in 2016
Fugitive businessman Vijay Mallya has sought relief from the Enforcement Directorate i.e. ED. Mallya wrote on his X handle that ED and the bank have recovered double the loan taken by him.
Mallya said, the debt recovery tribunal has estimated the debt of Kingfisher Airlines (KFA) at Rs 6203 crore, which also includes interest of Rs 1200 crore.
Finance Minister had said- ₹ 22,280 crore recovered from fugitives
Two days ago, Finance Minister Nirmala Sitharaman had told in Parliament that banks have recovered more than Rs 14,130 crore by selling Vijay Mallya’s properties.
Apart from this, ED and banks have recovered a total of Rs 22,280 crore including Rs 1,052.58 crore from fugitive diamond trader Nirav Modi and Rs 2,565.90 crore from Mehul Choksi and others.
Vijay Mallya fled India in 2016
Businessman and former MP Vijay Mallya fled India to the UK in 2016 amid allegations of financial irregularities related to Kingfisher Airlines. On January 5, 2019, Vijay Mallya was declared a fugitive. Cases of fraud and money laundering are pending against Mallya. The Indian government is trying to bring him back to the country.
Mehul Choksi accused of scam worth more than 14 thousand crores
Mehul Choksi and Nirav Modi, former chairman of Gitanjali Gems, are accused of a scam of more than Rs 14 thousand crore in the Brady House branch of Punjab National Bank in Mumbai. The amount was transferred to foreign accounts through fake Letters of Undertakings (LOU) between 2011 and 2018 in connivance with bank officials. Right now both are out of the country.
Took citizenship of Antigua-Barbuda in 2017
Mehul Choksi had fled abroad in January 2018. Later it was revealed that he had taken the citizenship of Antigua-Barbuda in 2017 itself. Agencies like Central Bureau of Investigation (CBI) and Enforcement Directorate (ED), which are investigating this scam, are trying to extradite Choksi.
Mehul Choksi has refused to appear in India citing ill health. Sometimes his appearance takes place only through video conferencing. Many of his properties in India have also been confiscated.
