Vijay Mallya’s assets worth nearly Rs 14 crore seized in France, says ED

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On the solicitation of the Enforcement Directorate (ED), French specialists have held onto a property of fugitive businessman Vijay Mallya in France worth almost Rs 14 crore. The estimation of the held onto resource is Euro 1.6 million that is worth about Rs 14 crore, the focal test organization said in a proclamation. 

The ED said in an explanation that the activity was attempted by French specialists “on the request of the Enforcement Directorate” and the property is situated at 32 Avenue FOCH in France. 

According to examinations directed under Prevention of Money Laundering Act, 2002 (PMLA), it was discovered that a huge sum was transmitted abroad from the financial balance of M/s. Kingfisher Airlines Ltd. (KAL) 
Mallya, an accused in a bank advance default instance of over Rs 9,000 crore including his outdated Kingfisher Airlines, is in the UK since March 2016. He is on bail on an extradition warrant executed three years ago by Scotland Yard on April 18, 2017.

The Center had on October 5 told the Apex court that Mallya can’t be extradited to India until a different separate secret legal process in the UK, which is judicial and confidential in nature, is resolved

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