Fifteen fugitive economic offenders (FEOs), including the Sandesara brothers, Nirav Modi, and Vijay Mallya, owe ₹58,082 crore to approximately a dozen public sector banks, of which the majority is the interest component on loans, the government told Parliament on Monday.
According to the government, the Sandesaras brothers and their businesses owing ₹18,694.32 crore, which included ₹10,818.92 crore in interest and ₹7,875.40 crore in principal.
In a written reply in the Lok Sabha, minister of state for home Pankaj Chaudhary disclosed data of dues and settlements in instances pertaining to the FEO Act . The Sandesara brothers have been reimbursed ₹3,156.17 crore by public sector banks.

Chaudhary added that as of October 31 this year, 15 people have been proclaimed FEOs under the FEO Act, 2018, out of which nine are tied to large-scale financial frauds against public sector institutions.
When the sum involved exceeds ₹100 crore, the FEO Act gives authorities the authority to seize and attach assets and proceeds of crimes. Such attachment is not tied to conviction.
The FEO Act was enacted in 2018 to dissuade economic criminals from avoiding the process of Indian law by residing beyond the jurisdiction of Indian courts.
Chaudhary claimed Sandesara brothers Nitin and Chetan, promoters of Sterling Biotech, negotiated a one-time compensation. The 15 FEOs jointly owe ₹26,645 crore as principal loan amounts to the banks, while the interest component is ₹31,437 crore.They owe to 12 state-owned banks, including Punjab National Bank, Bank of Baroda, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Bank.
After the Sandesaras agreed to deposit an extra ₹5,100 crore in the lender banks, the Supreme Court decided last week to dismiss all criminal charges against them. They have deposited ₹3,507 crore under various sections, leaving dues of roughly ₹3253 crore against a total one-time payment negotiated with the banks ( ₹6,761 crore). Banks have recovered ₹1192 crore through parallel insolvency processes.