7 months ago
1
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks implicit ₹58,000 crore successful main and interest. Despite having apprehension warrants issued against them, these FEOs person near India and garbage to instrumentality to debar transgression prosecution. Of this, the main magnitude owed is ₹26,645 crore, portion involvement accounts for ₹31,437 crore. To date, banks person recovered conscionable implicit ₹19,000 crore — astir 33% of the full dues.
Earlier this week, the Ministry of Finance informed Parliament that 15 individuals had been declared FEOs arsenic of October 31. Nine of them are progressive successful large-scale fiscal fraud, and the amounts they beryllium person been made public.
State Bank of India (SBI) is owed implicit ₹22,000 crore, followed by Punjab National Bank and Bank of India. The illustration beneath shows the Amount owed to the banks and the magnitude recovered.
Notably, the SBI has achieved the highest betterment complaint among these lenders, retrieving adjacent to 52%. This is mostly attributed to effectual betterment measures, including liquidation, successful Vijay Mallya’s account. In contrast, the betterment complaint for different banks remains beneath 40%.
In presumption of full dues owed initially (principal positive interest), businessman Mallya tops the database with astir ₹27,000 crore. The illustration beneath shows the magnitude owed by the offenders and the magnitude recovered.
He is followed by the Sandesara household (Sterling Group) and Nirav Modi. Over 56% of magnitude owed by Mallaya has been recovered till date, day show, portion for others, the complaint is overmuch little astatine 17% for the Sandesara household and 7% successful the lawsuit of Modi.
The charts below detail the indebtedness vulnerability and recovered magnitude for the apical offenders. SBI led successful vulnerability to Mallya, whereas PNB bore the brunt of Modi’s defaults. For the Sandesara family, the vulnerability was shared among aggregate banks.
The illustration beneath details the indebtedness vulnerability of assorted banks and the recovered magnitude successful accounts related to Vijay Mallya
The illustration beneath details indebtedness vulnerability and the recovered magnitude successful accounts related to the Sandesara family
The illustration beneath details indebtedness vulnerability and the recovered magnitude successful accounts related Nirav Modi
The information for the charts were sourced from Parliament Questions and Answers. This investigation includes the 2 fugitive economical offenders who person negotiated indebtedness colony nether One Time Settlement (OTS). In the graphs, members of the Sandesara household refers to magnitude borrowed by/recovered from Nitin J. Sandesara, Chetan J. Sandesara, and Dipti C. Sandesara arsenic mentioned successful the parliament document
