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Enforcement Directorate takes possession of Vijay Mallya's Rs 100 crore farm house

Enforcement Directorate on Thursday took possession of Rs 100 crore farm house of Vijay Mallya in Alibag of Maharashtra in connection with its money laundering probe case.


Enforcement Directorate takes possession of Vijay Mallya's Rs 100 crore farm house

New Delhi: Enforcement Directorate on Thursday took possession of Rs 100 crore farm house of Vijay Mallya in Alibag of Maharashtra in connection with its money laundering probe case.

The property, spread in 17 acres, was provisionally attached by the agency last year in September under the provisions of the Prevention of Money Laundering Act (PMLA).

The Enforcement Directorate had served eviction orders to the occupants in April this year after the owners failed to get any relief from appellate bodies.

"This property belongs to Ms Mandwa Farms Private Limited which was being controlled by Mallya," the agency said in a statement.

An ED team, from its zonal office in Mumbai, today pasted the possession orders on the farm house, which has an adjoining beach.

While the registered value of the property is Rs 25 crore, the ED said, its market value is over Rs 100 crore.

The farm house is in Alibaug in Raigad district of Maharashtra.

It said Ms Mandwa Farms Private Limited had appealed against the ED provisional attachment order before the Appellate Tribunal for PMLA which "dismissed" the application two days back.

"Accordingly, peaceful possession of the subject property (having present market value in excess of Rs 100 crore ) has been taken by the ED today," it said.

The ED is probing Mallya and others under criminal charges of money laundering in the alleged Rs 900 crore IDBI bank default case.

Earlier the hearing on the issue of embattled Indian tycoon Vijay Mallya's extradition from the UK had been deferred to June 13.

The CPS will be arguing on behalf of the Indian authorities when the fugitive businessman's extradition case comes up for hearing at Westminster Magistrates' Court in London on June 13. The hearing was earlier scheduled for May 17.

A four-member joint CBI and Enforcement Directorate (ED) team had arrived in London earlier this month.

With PTI Inputs

From Zee News

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