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.