New Delhi, December 18
Union Finance Minister Nirmala Sitharaman revealed that the Enforcement Directorate (ED) has successfully restored assets worth Rs 22,280 crore to victims and rightful claimants.
Speaking in the Lok Sabha, the finance minister highlighted the significant efforts made by the ED in recent years to recover ill-gotten wealth and return it to the public sector banks and defrauded investors.
Among the major cases, the ED has recovered properties valued at Rs 14,131.6 crore belonging to fugitive businessman Vijay Mallya, which were subsequently restored to public sector banks, Sitharaman noted.
Similarly, properties worth Rs 1,052.58 crore from the Nirav Modi case were handed back to both public and private banks. In the case of Mehul Choksi, the ED has attached properties worth Rs 2,565.90 crore, which are now set to be auctioned.
Sitharaman also mentioned the recovery of Rs 17.47 crore worth of assets from the National Spot Exchange Ltd (NSEL) scam, which were returned to genuine investors defrauded by the scheme.
She said, "On the Prevention of Money Laundering Act (PMLA), the ED has successfully restored properties valued at least Rs 22,280 crore from major cases. We have not left anyone behind, even if they fled the country. We have gone after them. The ED has collected this money and ensured that it is given back to the banks."
She also reassured the public that the stolen assets would be recovered and returned to their rightful owners, including financial institutions.
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