ED Recovers Billions in Stolen Assets: A Relentless Pursuit of Economic Offenders

Finance Minister Nirmala Sitharaman announced the recovery of properties worth Rs 22,280 crore from economic offenders. The properties of Vijay Mallya, Nirav Modi, and Mehul Choksi have been restored to banks. The government's ongoing crackdown on unaccounted foreign assets has led to significant disclosures and prosecutions.

The Finance Minister of India, Nirmala Sitharaman, declared on Tuesday that the Enforcement Directorate has returned properties valued at Rs 22,280 crore to the victims or rightful owners. This move is part of the government's continuous battle against economic offenders.

During the discussion of Supplementary Demands for Grants in Lok Sabha, Sitharaman highlighted key recoveries, including Rs 14,131.6 crore from fugitive Vijay Mallya, and properties worth Rs 1,052.58 crore from Nirav Modi restored to public and private banks. The ongoing legal proceedings against Mehul Choksi have led to the attachment of properties valued at Rs 2,565.90 crore.

Regarding foreign black money, Sitharaman underscored the impact of the Black Money Act, 2015, leading to an increase in disclosures to 2 lakh taxpayers by 2024-25. The government has launched 163 prosecutions with a demand raised for more than Rs 17,520 crore. Investigations into various leak-related cases have uncovered undisclosed income worth Rs 33,393 crore.

(With inputs from agencies.)