Business Companies 18 May 2017 ED impounds Vijay Ma ...

ED impounds Vijay Mallya's Alibag farm house worth Rs 100 crore

DECCAN CHRONICLE
Published May 18, 2017, 5:47 pm IST
Updated May 18, 2017, 6:10 pm IST
Earlier, a group of banks had auctioned Mallya's Kingfisher Villa in Goa for Rs 73 crore to recover dues.
Embattled liquor baron Vijay Mallya. (Photo: PTI)
 Embattled liquor baron Vijay Mallya. (Photo: PTI)

Mumbai: India's ace anti-money laundering agency Enforcement Directorate has further intensified its crackdown against properties owned by Vijay Mallya in loans default and money laundering cases.

ED that works under department of revenue of India's Finance Ministry has taken into its custody a farm house that founder of the now defunct Kingfisher Airlines owned until today. The property lies in Alibag, another holiday destination, in Maharashtra.

 

"The property, spread in 17 acres, was provisionally attached by the agency last year in September under the provisions of the Prevention of Money Laundering Act (PMLA)," PTI report said.

Earlier, a group of 17 lenders led by the State Bank of India had auctioned Mallya's Kingfisher Villa in Goa for Rs 73 crore to recover dues after the liquor baron failed to repay Rs 9,000 crore loan he took for starting and running KFA.

At the Villa, Mallya who has been known for his lavish lifestyle and flamboyant way of treating friends used to throw parties to his celebrity mates at the sprawling beach bungalow.

Mallya is now facing an extradition to India trial in the United Kingdom where he has been living in a self-imposed exile since he left India on March 2 last year on a diplomatic passport he had held as Rajya Sabha member.

At present, two top most investigating agencies in country -- ED and the Central Bureau of Investigation -- are pursuing Mallya's case with the UK authorities by taking several delegates to their government.

Recently, a joint team of sleuths from the ED and the CBI visited the UK to take stock of the trial and give more proofs to lawyers that are pushing for India's case in a London court for Mallya's extradition.

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