CURRENT AFFAIRS

Detailed explanation-1: -LONDON: Indian fugitive business tycoon Vijay Mallya and his family are set to be evicted from their multi-million-pound London home after mortgagee Swiss bank UBS won the right in court on Tuesday to repossess it and sell it.

Detailed explanation-2: -While Mallya owes over ₹9,000 crore to a consortium of banks in principal and interest, diamantaires Nirav Modi and Choksi, who are the main accused in the Punjab National Bank (PNB) loan fraud case, have caused losses worth ₹13,000 crore to the bank.

Detailed explanation-3: -Outlook Business Team. The government on Tuesday told the Supreme Court that Rs 18,000 crore has been recovered by the banks in relation to the scams done by fugitives Vijay Mallya, Nirav Modi and Mehul Choksi.

Detailed explanation-4: -NEW DELHI: The Enforcement Directorate on Thursday told the Supreme Court that Prevention of Money Laundering Act proceedings helped public sector banks get back Rs 15,113 crore worth attached assets of fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, who defrauded the banks of Rs 22,585 crore.

Detailed explanation-5: -The Centre on Wednesday informed the Supreme Court that banks got back Rs 18,000 crore from absconding businessmen Vijay Mallya, Nirav Modi and Mehul Choksi after proceedings were initiated under the Prevention of Money Laundering Act (PMLA), 2002.