Friday, January 21, 2022
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ED Seizes Vijay Mallya’s Assets In France

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Paris: Enforcement Directorate has seized assets of fugitive businessman Vijay Mallya worth Rs 14.35 crore in France on Friday.

In a statement, the probe agency said that it seized Mallya’s property located at 32 Avenue FOCH through the French authorities.

“On the request of Directorate of Enforcement (ED), a property of Vijay Mallya located at 32 Avenue FOCH, France has been seized by the French Authority. The value of the seized asset in France is 1.6 Million Euros (approximately Rs 14 crores). Investigations conducted under PMLA revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines,” ED said.

The agency said that since investigation began in January 2016, assets worth Rs 11,231.70 crore belonging to Mallya have been attached.

The former liquor baron is an accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines. He has been based in the UK since March 2016 and remains on bail on an extradition warrant executed three years ago by Scotland Yard on April 18, 2017.

The Centre had on October 5 told the apex court that Mallya cannot be extradited to India until a separate secret legal process in the UK, which is judicial and confidential in nature, is resolved.

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