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  1. Vijay Mallya money laundering case: Court confirms ED’s order for attachment of his assets worth 1,400 cr

Vijay Mallya money laundering case: Court confirms ED’s order for attachment of his assets worth 1,400 cr

The initial mandate that was challenged by Mallya has now got confirmed by a supervising authority mentioning that the decision taken by the ED was legitimate and correct.

By: | Published: December 3, 2016 12:09 AM
Vijay Mallya money laundering case, Vijay Mallya, UBHL, Kingfisher Airlines, SBI, ED, PMLA court, Vijay Mallya News, Money Laundering The initial mandate that was challenged by Mallya has now got confirmed by a supervising authority mentioning that the decision taken by the ED was legitimate and correct. (Court: PTI)

A fresh round of trouble is brewing up for liquor baron Vijay Mallya as the court has recently confirmed Enforcement Directorate’s order for the attachment of his properties worth Rs 1,400 crore against United Breweries Holdings Limited (UBHL) and others.

The initial mandate that was challenged by Mallya has now got confirmed by a supervising authority mentioning that the decision taken by the ED was legitimate and correct. Rejecting the application, Justice Vineet Kothari has also summoned Vijay Mallya to appear before the court on January 29, 2017.

On October 20, a division bench which included justice Jayant Patel and Aravind Kumar, while passing orders on petitions by an association of banks led by the State Bank of India, had also summoned Mallya to appear before the court by November 24.

Earlier on October 20, a division bench comprising justices Jayant Patel and Aravind Kumar while passing orders on petitions by a consortium of banks led by State Bank of India, had summoned Mallya to appear before it on November 24, reported The Indian Express.

As per the report, these banks have alleged Mallya of offending the undertaking given by him and his companies, including Kingfisher Airlines, not to transfer their equity shares in UBHL.

These banks have also said that the pledging of shares by Mallya was not legal and his inoperative group company Kingfisher Airlines owes somewhere around Rs 9,000 crore to 17 banks of the country. Mallya, who had left the country on March 2 this year is currently reported to be in the UK. As proclaimed by the ED in regards to his money laundering probe, the PMLA court has announced him as a proclaimed offender.

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