The Centre Tuesday said that assets amounting to Rs 19,111.20 crore relating to fugitives economic offenders Vijay Mallya, Nirav Modi and Mehul Choksi have been attached.

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Minister of State (MoS) for Finance, Pankaj Chaudhary, made the declaration in a written reply to Rajya Sabha.

Pankaj Chaudhary was asked whether the government has proposed or proposes to return the funds to the banks by confiscating the properties of business persons who fled abroad without repaying the loans of the banks.

In the written reply, the minister said Prevention of Money Laundering Act, 2002 (PMLA) and Fugitive Economic Offenders Act, 2018 (FEOA) provide that the Special Court trying the offence may restore any property or assets involved in money laundering to a third party claimant with a legitimate interest, including banks.

He further said that the trio has defrauded Public Sector banks by siphoning off the funds through their companies which resulted in a total loss of Rs 22,585.83 crore as of March 15, 2022.

"Assets worth Rs 19,111.20 crore have been attached under the provisions of PMLA. Out of which, assets worth Rs15,113.91 crores has been restituted to the Public Sector Banks," he said.

In addition, the Minister said assets worth Rs 335.06 crore have been confiscated by the government of India.

“As on March 15, 2022, 84.61 per cent of the total defrauded funds in these cases have been attached or seized and 66.91 per cent of a total loss to the banks has been handed over to Banks or Confiscated to the government of India," the minister added.

The minister also mentioned that the consortium of banks led by the State Bank of India (SBI) has realized Rs 7,975.27 crore by sale of assets handed over to them by the Directorate of Enforcement as of March 15 this year.