FM Nirmala Sitharaman informed the Lok Sabha on Tuesday that the ED has so far returned Rs 22,280 crore in assets to victims of various scams, including over Rs 14,000 crore to various banks from the sale of fugitive businessman Vijay Mallya's assets and Rs 1,053 crore to diamond merchant Nirav Modi.

The ED and the banks have jointly sought a special court in Mumbai to sell the assets of another diamantaire, Mehul Choksi, who, together with Nirav Modi, laundered over Rs 13,000 crore of Punjab National Bank cash and fled the country.

The special court has granted ED permission to value and sell the attached and confiscated properties worth Rs 2,566 crore, with the proceeds deposited in PNB and other liquidators' fixed deposit accounts.

In response to the additional grant requests, Sitharaman replied "ED has made significant progress in restoring assets to the legitimate owners of properties under the legal framework of PMLA, which stipulates that assets may be returned to bona fide claimants once trial commences, specifically after charges are framed by the special court."

She stated that ED was effectively utilizing PMLA sections 8(7) and 8(8), which allow for the restoration of assets to rightful owners where it is found that the properties were originally acquired through illegal means but ultimately belong to innocent individuals.