Over Rs 14,000 crore recovered for banks from Mallya asset sales: FM Nirmala Sitharaman
New Delhi: Finance Minister Nirmala Sitharaman informed the Lok Sabha on Tuesday that the Enforcement Directorate (ED) has so far restored assets worth Rs 22,280 crore to victims of various scams. This includes over Rs 14,000 crore recovered for banks through the sale of assets belonging to fugitive businessman Vijay Mallya and Rs 1,053 crore from the assets of diamond merchant Nirav Modi.
Sitharaman added that ED and banks have jointly approached a special court in Mumbai to auction the assets of Mehul Choksi, another fugitive diamantaire. Choksi, along with Nirav Modi, is accused of laundering over Rs 13,000 crore from Punjab National Bank (PNB) and fleeing the country.
The court has permitted the valuation and auction of seized properties worth Rs 2,566 crore. The proceeds will be deposited into fixed deposit accounts held by PNB and other liquidators.
Highlighting ED’s efforts under the Prevention of Money Laundering Act (PMLA), Sitharaman said, “The ED has made significant progress in restoring assets to rightful owners under the PMLA framework, which allows the return of assets to bona fide claimants after charges are framed by the special court.”
She noted that the agency is effectively utilizing s. 8(7) and 8(8) of the PMLA to ensure that assets acquired through illegal means but belonging to innocent parties are restored to their legitimate owners.
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Bihar govt to constitute 100 fast-track courts to expedite disposal of criminal cases: Home min
Patna (PTI): Bihar Home Minister Samrat Choudhary on Sunday announced that the state government will establish 100 fast-track courts (FTCs) to ensure the swift disposal of pending cases.
He said that the move also aims to ease the burden on regular courts for them to accord due attention to sensitive cases.
Choudhary said the decision in this regard has been made considering that over 18 lakh cases are pending before different courts in the state.
The constitution of FTCs will "bring in a big relief" to the judicial system and litigants, he said.
"To operationalise 100 FTCs across 38 districts and sub-divisions, the government will undertake large-scale recruitment," the home minister asserted in a statement.
He said that a total of 900 posts, including those of bench clerks, office clerks, stenographers, deposition writers, data entry operators, drivers, process servers and peons, will be filled.
Choudhary also announced that 79 courts will be designated as 'act courts' to fast-track cases related to the Arms Act. Swift resolution of such serious cases, he said, will strengthen law and order in the state.
The minister said that Patna alone will get eight fast-track courts, while four courts each will be set up in Gaya, Muzaffarpur, Darbhanga and Bhagalpur. Three FTCs each are planned for Nalanda (Bihar Sharif), Rohtas (Sasaram), Saran (Chhapra), Begusarai, Vaishali (Hajipur), East Champaran (Motihari), Samastipur and Madhubani.
Similarly, two courts each will be established in West Champaran (Bettiah), Saharsa, Purnea, Munger, Nawada, Jehanabad, Arwal, Aurangabad, Kaimur (Bhabhua), Buxar, Bhojpur (Arrah), Sitamarhi, Sheohar, Siwan, Gopalganj, Supaul, Madhepura, Araria, Kishanganj, Katihar, Banka, Jamui, Sheikhpura, Lakhisarai and Khagaria. One FTC each is also proposed for the sub-divisional courts of Naugachia and Bagaha.
