Fugitives, Economic Offenders To Be "Actively Pursued": Finance Minister

Vijay Mallya, Nirav Modi and Mehul Choksi have defrauded public sector banks by siphoning off funds through their companies which resulted in total loss of Rs 22,585.83 crore to the lenders, the Enforcement Directorate has said.

Finance Minister Nirmala Sitharaman today said the government will actively pursue cases against economic offenders to bring back defrauded money of banks. Fugitives & economic offenders will be actively pursued; their properties attached & dues recovered.#PSBs have already recovered ₹1357 Cr by selling such shares.A total of ₹9041.5 Cr shall be realised by banks through sale of such attached assets.https://t.co/e6F7n8drdlhttps://t.co/Jw96WlfjHX The remark came soon after the Enforcement Directorate (ED) said the Debts Recovery Tribunal (DRT) has sold shares worth over Rs 5,800 crore of United Breweries Limited (UBL) that were earlier attached under the anti-money laundering law as part of an alleged bank fraud probe against fugitive liquor baron Vijay Mallya. "Fugitives & economic offenders will be actively pursued; their properties attached & dues recovered. PSBs have already recovered Rs 1357 Cr by selling such shares. A total of Rs 9041.5 Cr shall be realised by banks through sale of such attached assets" the Finance Minister said in a tweet.