The union government has informed the Supreme Court that ₹18,000 crore have returned to banks from Vijay Mallya, Nirav Modi, and Mehul Choksi, Hindustan Times reported.
Solicitor General Tushar Mehta informed the apex court that the said amount has been returned to banks.
The total amount covered by interim orders of no coercive action passed by the courts in such matters is approximately ₹67,000 crore, the government told a bench headed by Justice A M Khanwilkar.
The top court had earlier adjourned for 24 February a contempt case against former billionaire and fugitive businessman Vijay Mallya, granting him two weeks time as the last opportunity to appear before it personally or through counsel.
Mallya is wanted in India to face fraud and money laundering charges and remains on bail in the UK while a “confidential" legal process is completed.
After his extradition to India was ordered by the UK government in February 2019, Mallya went on to exhaust all legal avenues to contest the order in British courts. The businessman is now believed to be relying on an application seeking political asylum in the UK.
While Mallya owes over ₹9,000 crore to a consortium of banks in principal and interest, diamantaires Nirav Modi and Choksi, who are the main accused in the Punjab National Bank (PNB) loan fraud case, have caused losses worth ₹13,000 crore to the bank.
The Centre has also informed the SC that 4,700 cases are being investigated by the Enforcement Directorate (ED) as on date, and only 313 people have been arrested for the alleged offences since the enactment of the Prevention of Money Laundering Act (PMLA) in 2002.
