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Bank Consortium Extracts Rs 792.11 Cr By Liquidating Mallya's Assets
According to Enforcement Directorate (ED), the SBI-led consortium extracted Rs 13,100 crore by liquidating the assets of Vijay Mallya, Nirav Modi, and Mehul Choksi. Out of the total recovered assets, Mallya's assets stand at Rs 792.11 crore. Reportedly, the assets were confiscated under the Prevention of Money Laundering Act (PMLA). The three businessmen allegedly defrauded various PSBs by extorting money through their companies.
Tags: Consortium, SBI, Vijay Mallya, nirav modi, Mehul Choksi
Courtesy: The Economic Times
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Jet Airways Owes Rs 3 Lakh To Each Employee As Settlement
Former employees of Jet Airways claim that the grounded airlines owe each employee Rs 3 lakh, while it has only offered Rs 23,000 as settlement. While the total settlement money stood at Rs 1,265 crore, the airlines have earmarked only Rs 52 crore for its employees. Reacting to the settlement proposal, one of the former employees who refused to reveal the identity, called the amount "peanuts".
Tags: Jet airways, employees, Airplane, Consortium
Courtesy: The Free Press Journal
