ED attaches Mallya's properties worth Rs 1,411 cr; beleaguered businessman tweets defence

In the latest, properties worth Rs 1,411 crore belonging to Vijay Mallya have been attached by the Enforcement Directorate (ED) on Saturday in the issue of money laundering related with the IDBI loan default case.

Last Updated: Jun 12, 2016, 01:00 AM IST
ED attaches Mallya's properties worth Rs 1,411 cr; beleaguered businessman tweets defence

Zee Media Bureau

New Delhi: In the latest, properties worth Rs 1,411 crore belonging to Vijay Mallya have been attached by the Enforcement Directorate (ED) on Saturday in the issue of money laundering related with the IDBI loan default case.

The properties are loacted in Bengaluru, Mumbai, Chennai and Coorg.

"We have attached properties worth Rs 1,411 crore (as per the market value) of Vijay Mallya and UB Limited under the Prevention of Money Laundering Act," an Enforcement Directorate official said.

Responding to the action by the ED, Mallya tweeted in defence saying, “Life isn't about waiting for the storm to pass. It's about learning to dance in the rain - Vivian Greene. One of my favourites!”

 

 

Enforcement Directorate (ED) on Friday moved a special PMLA court in Mumbai seeking to declare liquor baron Vijay Mallya a proclaimed offender in connection with its money laundering probe against him in an alleged bank loan fraud case.

Officials had said that the agency has made a plea to the court to issue an order under Section 82 of the Criminal Procedure Code (CrPC) and term him a proclaimed offender as Mallya has “multiple” arrest warrants pending against him including a non-bailable warrant (NBW) under the Prevention of Money Laundering Act (PMLA).