Senior Advocate Vikas Pahwa: Market Value Of ED Seizures 10 Times Their Book Value

Prime Minister Narendra Modi has said he is seeking legal advice on how to return black money to India's poor. In an exclusive interview with the India Today Group, the prime minister expressed a commitment to enact reforms to combat corruption effectively, with a focus on distributing seized wealth to victims. He stated that Rs 17,000 crore of the Rs 1.25 lakh crore of seized money has already been returned.Senior Supreme Court advocate Vikas Pahwa, however, claims the market value of seized assets would be 10 times the stated Rs 1.25 lakh crore. "Most seized properties are calculated based on book value. For example, properties purchased in the 70s, 80s, or 90s are valued at much older rates. The current market value would be at least 10 times higher,". Pahwa calls the Rs 1.25 lakh crore figure conservative. "Once trials are concluded, the central government will have significantly more funds if we consider the market value of the properties."