Union Finance Minister Nirmala Sitharaman informed the House on Tuesday about the recovery from the properties of fugitive Vijay Mallya. During the winter session of Parliament, the Finance Minister said that by selling the properties of Vijay Mallya, his dues of Rs 14,131.6 crore have been returned to several public sector banks.
Rightful money is being returned to the victims: Finance Minister
During Lok Sabha debate on Supplementary Demand for Grants for the current financial year 2024-25, Nirmala Sitharaman said that the Enforcement Directorate (ED) has seized the properties of fugitive economic offenders and returned Rs 22,280 crore of their rights to the victims of various scams. Are given.
Nirav Modi’s properties worth Rs 1,052.58 crore have also been sold and returned to public and private sector banks. Meanwhile, the seized properties of Mehul Choksi will also be auctioned and Rs 2,565.90 crore will be recovered from it.
Investigation agency is chasing economic criminals
In the case of National Spot Exchange Limited (NSEL), Rs 17.47 crore was also returned to the investors who were victims of financial scam. Sitharaman said that the Central Investigation Agency did not spare any economic offender, it also continuously chased those who fled the country.
ED collected money from them and returned it to the banks. The Finance Minister said, we identified economic criminals and went after them. We will ensure that the money that goes back to the banks, goes back.
Government is continuously taking action against criminals
The Finance Minister said that the Black Money Act of 2015 is really having a positive impact on the taxpayers. Now they themselves are coming forward to disclose the properties acquired abroad. The Finance Minister informed the House that the number of taxpayers giving details of foreign assets has increased from 60,467 in 2021-22 to 2 lakh in 2024-25.
Under the Act, more than Rs 17,520 crore has been recovered in 697 cases till June 2024. A total of 163 legal actions have been initiated. He said that the Central Government has also taken action to impose tax on undeclared foreign assets. Apart from this, cases related to HSBC, ICIJ, Panama, Paradise and Pandora leaks are also being investigated.
Along with this, undisclosed income of Rs 33,393 crore has also been detected in 582 cases. The Finance Minister said that the government has formed a Multi-Agency Group (MAG) with various investigating agencies, which is taking immediate action after obtaining information about foreign assets.
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