Vijay Mallya, Nirav Modi among 15 persons declared Fugitive Economic Offenders for bank frauds: MoS
New Delhi, Dec 1 (SocialNews.XYZ) Vijay Mallya of Kingfisher Airlines, Nirav Modi of Firestar International and Nitin Sandesara of Sterling Biotech and Sterling SEZ are among the 15 persons declared as Fugitive Economic Offenders (FEOs) as on October 31 for causing a loss of over Rs 57,000 crore to various banks, the Lok Sabha was informed on Monday. Minister of State for Finance Pankaj Chaudhary said that the 15 persons, declared FEOs by the Special Court under the provisions of the Fugitive Economic Offenders Act, 2018 (FEOA), caused a financial loss of Rs 26,645 crore to banks, as principal amount till October 31, 2025.
