ED seizes assets worth over Rs 18,000 crores of Vijay Mallya, Nirav Modi, Mehul Choksi; transfers part of it to Centre, public sector banks

The Directorate of Enforcement (ED) has seized assets belonging to businessmen Vijay Mallya, Nirav Modi and Mehul Choksi, accused under the Prevention of Money Laundering Act for defrauding Public Sector Banks by siphoning off funds through their companies leading to a loss of over Rs. 22,000 crores.