Vijay Mallya’s shares and assets worth Rs 6,630 crore attached by ED

By: | Updated: September 3, 2016 4:48 PM

The Enforcement Directorate has attached the assets, properties, and shares of businessman Vijay Mallya, total worth amounting to Rs 6,630 crore.

vijay mallya, mallya, kingfisher, ed, enforcement directorate, mally assets, mallya propertiesShares worth Rs 3,000 crore, of United Breweries Limited and United Spirits Limited which are companies owned by Vijay Mallya has also been attached.(Express Photo)

The Enforcement Directorate has attached the assets, properties, and shares of businessman Vijay Mallya, total worth amounting to Rs 6,630 crore. According to Times Now, the ED attached an under-construction mall and Mallya’s luxury apartment in Bengaluru and worth Rs 800 crore and a farmhouse in Maharashtra whose valuation is Rs 200 crore. Shares worth Rs 3,000 crore, of United Breweries Limited and United Spirits Limited which are companies owned by Mallya has also been attached. In the year 2010, the ED had done the valuations, but the current value of the attached property is 6,600 crore.

ED recently with an aim to expand the probe, took over an investigation into the Rs 6,027 crore alleged loan default, availed by Mallya’s company from nationalised banks including the SBI. CBI also recently took over the case. A total of Rs 8,044 crore worth of assets has been attached as a few months ago Rs 1,411 was also attached by the ED. With an aim to strengthen its probe against Mallya, took a series of actions as recently a new PMLA case was also filed against Mallya after ED booked him earlier under the under the case of a similar bank loan default in IDBI bank worth Rs 900 crore.

ED has also been making efforts to get a global arrest warrant issued by Interpol and also to invoke the India-UK Mutual Legal Assistance Treaty (MLAT) in order to force the liquor baron to come back to India.

Mallya had defaulted more than Rs 9,000 crore on loans through the now closed Kingfisher Airlines, a company founded by him. He has also been accused of money laundering, and the ED has been wanting him for questioning. But Mallya has been living abroad since March and denied all accusations and has said that he was in talks with the banks to settle the loans.

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