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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2 dead, 75 rescued after speed boat rams into ferry off Mumbai coast
Mumbai, Dec 18: Two passengers died and 75 others on board a ferry were rescued after a speed boat crashed into it off Mumbai coast on Wednesday, officials said.
The Neelkamal ferry, with 80 persons and five crew members on board, was on way to Elephanta Islands, a popular tourist destination near Mumbai, when the speed boat circled it before crashing into it, a viral video of the accident shows.
A local leader claimed that the speed boat belonged to the Navy, but there was no confirmation from the Navy on this.
The Navy and Coast Guard launched a massive rescue operation, with 11 Navy boats and three boats of Marine Police and a boat of Coast Guard being deployed in the area, a defence official said.
Four helicopters were involved in the search and rescue operation, the official said.
Personnel from police, Jawaharlal Nehru Port Authority and fishermen in the area are also involved in the rescue work, the official said.
Chief Minister Devendra Fadnavis informed the state assembly in Nagpur that search is underway for seven to eight passengers who are yet to be traced.
The speed boat, which is said to belong to either the Navy or Coast Guard, apparently lost control and rammed into the ferry, Fadnavis said.
🔴#Watch | 1 Dead After Speedboat Slams Into Ferry With 56 Passengers Off Mumbai https://t.co/XLE0W6Mmgy pic.twitter.com/NXoybZQiXG
— NDTV (@ndtv) December 18, 2024
