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#BREAKING ED recovers ₹22,280 crores from economic offenders like Vijay Mallya, Nirav Modi & Mehul Choksi ₹14,121 crores: Mallya's group Finance Minister @nsitharaman confirms intensified
₹1,052 crores: Nirav Modi's group
₹2,565 crores: Mehul Choksi's assets
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In a significant development, the Enforcement Directorate (ED) has recovered a staggering amount of ₹22,280 crores from economic offenders such as Vijay Mallya, Nirav Modi, and Mehul Choksi. This recovery is a major victory in the fight against financial fraud and economic crimes plaguing the country.
The breakdown of the recovered amount is as follows:
– ₹14,121 crores from Vijay Mallya’s group
– ₹1,052 crores from Nirav Modi’s group
– ₹2,565 crores from Mehul Choksi’s assets
This substantial recovery showcases the government’s commitment to holding economic offenders accountable for their actions and retrieving the funds they have siphoned off. Finance Minister Nirmala Sitharaman has confirmed that the ED’s efforts have been intensified to track down and recover money from individuals who have defrauded the system.
Vijay Mallya, once a prominent figure in the business world, fled the country in 2016 to avoid facing charges of financial misconduct related to his now-defunct Kingfisher Airlines. The recovery of ₹14,121 crores from his group is a significant step towards bringing him to justice and reclaiming the funds owed to creditors and the Indian government.
Similarly, Nirav Modi and Mehul Choksi were involved in the infamous Punjab National Bank (PNB) scam, where they defrauded the bank of billions of rupees through fraudulent transactions. The recovery of ₹1,052 crores from Nirav Modi’s group and ₹2,565 crores from Mehul Choksi’s assets signifies a major breakthrough in unraveling the complex web of financial crimes perpetrated by these individuals.
The ED’s relentless pursuit of economic offenders and their ill-gotten gains sends a strong message that financial fraud will not go unpunished. The recovery of such a substantial amount is a testament to the government’s commitment to upholding the rule of law and ensuring that those who engage in fraudulent activities are held accountable for their actions.
As the country continues to grapple with the challenges of economic crimes and fraud, the ED’s success in recovering ₹22,280 crores from high-profile offenders is a beacon of hope for a more transparent and accountable financial system. The government’s unwavering determination to root out corruption and financial malpractice is evident in its efforts to bring economic offenders to justice and recover the funds they have unlawfully obtained.
Overall, the ED’s recovery of ₹22,280 crores from individuals like Vijay Mallya, Nirav Modi, and Mehul Choksi is a significant milestone in the ongoing battle against financial misconduct and economic offenses. It demonstrates the authorities’ commitment to safeguarding the integrity of the financial system and ensuring that those who seek to defraud the system are held accountable for their actions.
ED recovers ₹22,280 crores from economic offenders like Vijay Mallya, Nirav Modi & Mehul Choksi
₹14,121 crores: Mallya’s group
₹1,052 crores: Nirav Modi’s group
₹2,565 crores: Mehul Choksi’s assetsFinance Minister @nsitharaman confirms intensified… pic.twitter.com/KIQfh8uUDJ
— Nabila Jamal (@nabilajamal_) December 18, 2024
In a groundbreaking development, the Enforcement Directorate (ED) has successfully recovered a staggering ₹22,280 crores from economic offenders like Vijay Mallya, Nirav Modi, and Mehul Choksi. This monumental achievement marks a significant step in the fight against financial crimes and sends a strong message to those who seek to exploit the system for personal gain.
The ED’s relentless pursuit of justice has resulted in the recovery of substantial amounts from these high-profile individuals. Vijay Mallya’s group alone accounts for ₹14,121 crores, showcasing the agency’s commitment to holding accountable those who have evaded the law for far too long. Additionally, Nirav Modi’s group has been made to pay back ₹1,052 crores, while Mehul Choksi’s assets amount to ₹2,565 crores.
This successful recovery is a testament to the dedication and hard work of the ED officials who have worked tirelessly to trace and seize the ill-gotten gains of these economic offenders. The meticulous investigation and strategic planning undertaken by the agency have paid off, resulting in a significant victory for the Indian financial system.
Finance Minister Nirmala Sitharaman has confirmed the intensified efforts of the ED in cracking down on economic offenders and ensuring that no one is above the law. Her unwavering support for the agency’s mission to bring transparency and accountability to the financial sector has been instrumental in achieving this remarkable outcome.
The recovery of such a substantial amount from individuals who have long eluded justice is a clear signal that the Indian government is serious about combatting financial crimes and holding perpetrators accountable. It sends a strong message to those who engage in fraudulent activities that they will be pursued and brought to justice, no matter how powerful or influential they may be.
The recovered funds will not only serve as a deterrent to others who may consider engaging in similar illegal activities but will also help bolster the country’s economy and strengthen its financial institutions. The ED’s success in recovering these funds is a significant milestone in the ongoing efforts to clean up the financial system and ensure that it operates with integrity and transparency.
As we celebrate this major achievement by the ED, it is important to remember that the fight against financial crimes is an ongoing battle that requires the continued vigilance and dedication of law enforcement agencies, government officials, and the public. By working together, we can create a system that is fair, just, and free from corruption.
In conclusion, the recovery of ₹22,280 crores from economic offenders like Vijay Mallya, Nirav Modi, and Mehul Choksi is a monumental victory for the Indian financial system and a clear demonstration of the government’s commitment to rooting out corruption and ensuring accountability. This success is a result of the hard work and dedication of the ED officials, as well as the unwavering support of Finance Minister Nirmala Sitharaman. It serves as a powerful reminder that justice will prevail, no matter how long it takes, and that those who seek to defraud the system will be held accountable for their actions. Let us continue to support the efforts of law enforcement agencies in their mission to create a more transparent and equitable financial system for all.