India’s Enforcement Directorate has seized a 17-acre property belonging to Vijay Mallya.
SAN FRANCISCO (Diya TV) — India’s Enforcement Directorate took control of embattled liquor baron Vijay Mallya’s 17-acre coastal farmhouse in Alibag, worth an estimated Rs. 100 crore, on Thursday.
The agency had previously issued an eviction notice, ordering Mallya to vacate the property by April 25.
The Enforcement Directorate has identified properties worth more than Rs 11,000 crore belonging to Mallya, at least Rs 9,000 crore worth of properties have already been attached by the agency under the Prevention of Money Laundering Act. The former “King of Good Times” is currently subject to a slew of money laundering charges, and is currently free on bail after his recent arrest in London.
He is alleged to owe more than Rs 9,000 crore to a consortium of Indian banks. Former IDBI Bank CMD Yogesh Aggarwal said he had disbursed at least Rs 350 crore to Mallya for his now defunct Kingfisher Airlines, even before the loan was sanctioned by the bank.
The Enforcement Directorate are currently seeking Mallya’s extradition from the United Kingdom and has submitted evidence to counsel representing India’s case before a London court seeking his custody. A senior ED official told the Times of India that the evidence submitted before a special court in Mumbai, which had last year issued a non-bailable arrest warrant against the beleaguered businessman, would serve as proof against Mallya to get complete his extradition.
The post Vijay Mallya’s 17-acre farmhouse in Alibag seized by India’s enforcement directorate appeared first on Diya TV.
