SBI Bank finally got back the sunken money; Compensation of Rs. 5824 crore by confiscating Vijay Mallya’s property Vijay Mallya money state bank of India SBI get 5824 crore

SBI Bank finally got back the sunken money; Compensation of Rs. 5824 crore by confiscating Vijay Mallya’s property Vijay Mallya money state bank of India SBI get 5824 crore

Vijay Mallya | Although the assets of Vijay Mallya, Nirav Modi and Mehul Choksi were transferred to the bank, only 40 per cent of the losses have been recovered.

SBI Bank finally got back the sunken money;  Compensation of Rs. 5824 crore by confiscating Vijay Mallya's property

Vijay Mallya

Mumbai: Wine tycoon Vijay Mallya had taken a loan of Rs 9,000 crore from the State Bank of India (SBI). However, Mallya had fled abroad after sinking the debt. Therefore, it was time for SBI Bank to release Rs 9,000 crore. However, in the recent past, the Directorate of Recovery (ED) had confiscated Vijay Mallya’s assets at home and abroad. Rs 5,824.5 crore from the auction of these assets was recently handed over to SBI Bank. So the bank has got some relief. (Vijay Mallya money state bank of India SBI get 5824 crore)

Vijay Mallya, Nirav Modi and Mehul Choksi, all industrialists who fled abroad after slinging lime at Indian banks, had their assets worth Rs 9,371 crore transferred to the banks. The Directorate of Recovery had seized assets worth Rs 18,000 crore from the three. Efforts are underway to bring Vijay Mallya, Nirav Modi and Mehul Choksi to India from abroad. All three had committed massive financial frauds by diverting money borrowed from public sector banks to their anonymous companies. Together, the three had sunk banks to the tune of Rs 22,585.83 crore.

Only 40 percent compensation

Although the assets of Vijay Mallya, Nirav Modi and Mehul Choksi were transferred to the bank, only 40 per cent of the losses have been recovered. Vijay Mallya had taken a loan of Rs 9,000 crore from SBI. However, SBI has received only Rs 5,824.5 crore in return.

Mallya doesn’t even have money to pay the lawyer?

Vijay Mallya is known to be completely destitute. Mallya does not have enough money to pay the lawyers due to the financial blockade due to the backlog of court cases. Therefore, his lawyer has warned that if the fee is not paid on time, the case will not be fought. As a result, Mallya’s headache has increased. Mallya has fled to London after sinking crores of rupees in Indian banks. Mallya, who once squandered money, is now struggling financially. He has to keep account of thousands and lakhs of rupees in London. Sources said that his personal expenses have also come under pressure and he has no money left to pay the lawyers.

Related news:

Debt-ridden Vijay Mallya shocked, British court rejects bankruptcy petition

Mehul Choksi, who has ruined many, got caught in a honey trap? Mystery Girl added to the mystery

Mehul Choksi: ‘Didn’t flee India, left the country for treatment’, scamster Mehul Choksi’s bizarre claim

(Vijay Mallya money state bank of India SBI get 5824 crore)


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