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| Vijay Mallya's Properties Worth |
| Vijay Mallya's Properties Worth Over 1,400 Crores Attached In Loan Fraud Case
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| INDIA
, 11-June-2016
20:7:57 PM |
| The Enforcement Directorate has attached properties worth over Rs. 1,411 owned by liquor baron Vijay Mallya in a 950 crore loan default case.
The investigative agency had registered a case against the business tycoon in March, for defaulting on repayment of a loan taken from IDBI bank in 2009 to pump into his now defunct Kingfisher Airlines.
This is a day after ED moved a Mumbai court to declare Mr Mallya a proclaimed offender.
Sources in the Enforcement Directorate told NDTV that among the properties attached were UB Towers in Bangalore and a 27 acre coffee plantation in Coorg. Remaining properties attached are from Mumbai and Chennai. The agency said the properties attached were valued around Rs. 900 crore in 2009.
Mr Mallya, reportedly in London, left the country in March as banks attempted to recover around Rs. 9,000 crores loaned to his collapsed Kingfisher Airlines. Since then, he has not joined the probe despite repeated summons. Ex-Member of Parliament in the Rajya Sabha, Mr Mallya's passport was cancelled in April. ED has also requested Interpol to issue an international arrest warrant against Mr Mallya
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