Page 122 - Nirav Modi News Today

Rs 18,000 cr returned to banks from Mallya, Nirav, Choksi: Centre to SC

Solicitor General Tushar Mehta on Wednesday informed the Supreme Court that Rs 18,000 crore have been returned to the banks in the case of Vijay Mallya, Nirav Modi, and Mehul Choksi.

Indian banks have recovered Rs 18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, who are accused of serious economic offences including money laundering, the country's Supreme Court was told today.

The court was hearing a batch of pleas challenging the powers of the Enforcement Directorate and certain provisions of the Money Laundering Act.

Authority to Enforcement Directorate in money laundering cases has been challenged in apex court

Solicitor General Tushar Mehta on Wednesday informed the Supreme Court that Rs 18,000 crore have been returned to the banks in the case of Vijay Mallya, Nirav Modi, and Mehul Choksi.

The Centre on Wednesday told the Supreme Court that Rs 18,000 crore have been returned to the banks in the cases of fugitive industrialist Vijay Mallya, and other businessmen Nirav Modi and Mehul Choksi, who faced charges of loan frauds and money laundering. Solicitor General Tushar Mehta, appearing for the Centre, submitted before a bench presided over by Justice A M

For ICICI Bank, the brokerage gives a 'buy' call at Rs 776 with a target price of Rs 940.

The govt also informed SC that out of 4,700 cases being probed by ED, only 313 people have been arrested since enactment of PMLA in 2002.

Gujarat Police arrested Ping Huang, a Chinese national and two others for allegedly using a shell company to transfer Rs 1 crore to China. The other accused Sanjay Patel, who owns an courier firm, and Suraj Maurya, who worked for a Chinese hawala agent identified as Xie Cheng, have also been nabbed.