The government is slowly tightening the noose on diamond merchant Nirav Modi and Kingfisher Airlines owner Vijay Mallya, who fled abroad after taking loans from banks in the name of business. According to the information given by the Center, more than Rs 13,000 crore has been recovered by the government by selling the properties of Vijay Mallya and Nirav Modi. Both the officers are living abroad after scamming thousands of crores from many banks of the country.
Finance Minister Nirmala Sitaram told the Lok Sabha on Monday that Rs 13,109 crore has been raised by selling the properties of Vijay Mallya and Nirav Modi. “So far the banks have got the amount by selling the properties of two fugitive defaulters,” Sitaram said. The ED had informed about the recovery made by selling the properties of Nirav Modi and Vijay Mallya in July this year, but the Finance Minister informed the Parliament today.
Talking about liquor businessman Vijay Mallya, the owner of United Breweries, Vijay Mallya had taken a loan of ₹ 9000 crores from banks. Banks allege that till date the loan amount and interest have not been paid. If we talk about diamond executives Nirav Modi and Mehul Choksi, then they have cheated more than Rs 13,000 crore from other banks including PNB.
A US court has dealt a severe blow by rejecting the petition of fugitive Indian diamond trader Nirav Modi. Let us tell you that Nirav Modi and two of his associates had filed a petition in the court seeking quashing of the scam charges against him.