ED attaches Mallya's property worth Rs 1,411 crore

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New Delhi, June 11: In a bid to recover the loans taken by Vijay Mallya the Enforcement Directorate today attached properties worth Rs 1,411 crore. The properties belonging to both Mallya and UB Holdings were attached by the ED.

The ED unsertook the exercise in the IDBI bank loan case. The attachments were carried out under the provisions of the Prevention of Moneu Laundering Act.

ED attaches Mallya's property worth Rs 1,411 crore.
Yesterday the the Enforcement Directorate moved a court in Mumbai to declare Vijay Mallya a proclaimed offender. The application was filed before the special anti money laundering court.

The ED had sought to declare Mallya a proclaimed offender. The ED has stated to the court that non bailable warrants had been issued against Mallya. Further it has also been stated that despite notices being served Mallya has failed to respond and has not once turned up before the investigating agency.

Mallya who is facing charges of money laundering is being probed both by the CBI and the ED. If the court declares Mallya a proclaimed offender then it adds strength to the case of the ED to have Mallya extradited from the UK.

OneIndia News

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