New Delhi: The Enforcement Directorate (ED) has transferred a portion of the assets valued at Rs 8,441 crore it had seized in connection with cases related to the three fugitive economic offenders Vijay Mallya, Nirav Modi and Mehul Choksi to state-run banks.

With this, the total transfer of the attached assets stand at Rs 9,371 crore, the agency said on Wednesday. This amounts to 40 per cent of the banks’ losses, the agency clarified.

According to the federal agency, the State Bank of India (SBI)-led consortium on Wednesday recovered Rs 5,824 crore in the Mallya case by selling some United Breweries (UB) shares through the Dispute Resolution Tribunal as directed by the Prevention of Money Laundering Act (PMLA) court.

In the Mallya case, the ED recently transferred Rs 6,600 crore worth of assets.

In the Nirav matter, it transferred Rs 1,060 crore to Punjab National Bank.

The SBI consortium is also in the process of recovering Rs 800 crore this week by liquidating some more UB shares, taking the total recovery to Rs 7,981 crore. This includes the earlier recovered amount of Rs 1,357 crore by banks in the case.

The banks will be realising a total amount of Rs 7,981.5 crore this week through a sale of a part of the assets attached/seized by the ED under the provisions of PMLA, the agency pointed out.

Besides, the federal agency revealed that the three offenders have defrauded the public sector banks (PSBs) of Rs 22,586 crore, of which 80 per cent (or Rs 18,170 crore) has been attached/seized by the ED.