Banks recovered Rs. 13 thousand 109 crore from assets sale of Vijay Mallya, Nirav Modi and Mehul Choksi : Central Finance Minister

New Delhi – The banks have recovered Rs. 13 thousand 109 crore from the assets sale of the businessmen like Vijay Mallya, Nirav Modi and Mehul Choksi, who fled the country after the money laundering in a large number of bank accounts. Nirmala Sitharaman, the Central Finance Minister, told in the Lok Sabha that the public sector banks have recovered Rs. 5 lakhs 49 thousand crore in the last 7 years.

Banks have recovered approximately Rs 13k cr from asset sale of defaulters like Nirav Modi, Vijay Mallya: FM Nirmala Sitharamanhttps://t.co/LgQysHtBJ5

— OpIndia.com (@OpIndia_com) December 20, 2021

Many banks have accused Vijay Mallya of not returning the debts of the total of Rs. 9 crore. Nirav Modi, the diamond merchant, and his relative Mehul Choksi were involved in the money laundering of more than Rs. 13 thousand crore from many banks in the country along with the National banks.