ED seized Rs 18k crore assets from Nirav Modi, Mallya, Choksi; Rs 9k cr transferred to banks, Centre

The ED has seized assets worth Rs 18,170 crore in cases related to fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi. About half of it has been transferred to the banks and Centre.

The Enforcement Directorate (ED) has seized assets worth Rs 18,170 crore, which is 80% of the total losses incurred by the banks, in cases related to fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi. The ED also said on Wednesday that not only has the assets been seized, but a significant share, Rs 9,371.17 crore, has been transferred to the public sector banks and the central government.