Vijay Mallya’s assets worth ₹14cr seized in France
TIMES NEWS NETWORK
New Delhi:05.12.2020
French authorities have seized fugitive liquor baron Vijay Mallya’s property in France worth1.6 million euros (Rs 14 crore) based on a request made by the Enforcement Directorate.
According to the ED, Mallya’s seized property is located at 32, Avenue Foch, Paris. The asset created by allegedly laundering bank loans availed by Mallya using his Kingfisher Airlines Ltd. Mallya has defaulted on loans of over Rs 9,000 crore taken from public sector banks. The agency has attached his properties worth over Rs 11,000 crore.
Mallya has already been declared a fugitive economic offender and his extradition from the UK is in progress. A chargesheet has been filed in court against him and a non-bailable arrest warrant is pending. “Extradition request of Vijay Mallya was sent to UK, and the Westminster’s magistrate’s court has ruled for his extradition on charges of money laundering on December 10, 2018,” the ED said.
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