ED attaches Vijay Mallya's assets worth Rs 6,630 crore


New Delhi, Sep 3 (PTI) : The Enforcement Directorate (ED) today issued its second attachment order for assets worth Rs 6,630 crore against beleaguered businessman Vijay Mallya as it seized his farmhouse, flats and FDs in connection with its money laundering case against him and his associates.

The agency had recently expanded the probe in this regard as it took over investigation into the alleged loan default of Rs 6,027 crore availed from a consortium of nationalised banks led by SBI, a case also taken over by CBI recently.

The fresh action is an aftermath of the new case.The total attachment made by the agency in this case has now shot up to Rs 8,044 crore as it had attached assets worth Rs 1,411 crore few months back.

The provisional attachment order, issued under the provisions of the Prevention of Money Laundering Act (PMLA), said it has ordered for seizing a farm house in Mandwa in Alibaugh worth Rs 25 crore, multiple flats in Kingfisher tower in Bengaluru worth Rs 565 crore, fixed deposits of Mallya with a private bank to the tune of Rs 10 crore and shares of USL, United Breweries Limited and Mcdowell Holding company, jointly held by the liquor baron and UBHL and his controlled entities, worth Rs 3,635 crore.

"The total attachment under today's order is worth Rs 4,234.84 crore but the present market value of these properties and assets is Rs 6,630 crore approximately," the agency's order said.

The agency alleged these assets were the "proceeds generated out of criminal activity" of the alleged default of bank loans as it claimed Mallya "criminally conspired" with Kingfisher Airlines (KFA) and United Breweries Holdings Limited to obtain funds through the consortium of banks and out of this total amount, the principal fund of Rs 4,930.34 crore "still remains unpaid."

"In addition, huge number of shares were also being held in the name of various other group companies controlled directly or indirectly by Mallya. Hence, it appeared that even though sufficient funds were available with the promoters of KFA-- Mallya and UBHL-- they had no intention to make payment towards the bank loans from the consortium banks.

"They deliberately and intentionally kept the huge number of shares approximately worth Rs 3,600 crore pledged with UTI Investment Advisory Services Ltd and other financial institutions without substantial underlying liabilities and thus kept the consortium in dark," the ED said in the order, accessed by PTI.

  

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Comment on this article

  • Amith, udupi

    Sun, Sep 04 2016

    loss for banks he was willing to pay 6800 crores ..

    DisAgree [1] Agree [4] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Sun, Sep 04 2016

    The article deals with Mallya's fraudulent act and misapprriation of Funds, why politics and or party leaders are targeted here ?

    DisAgree Agree [4] Reply Report Abuse

  • Harish, Kadaba

    Sun, Sep 04 2016

    Karnataka BBMP stoped demolition of housing colony, after the land is belong to congiex minister and darshan . see the diff between central and state

    DisAgree [1] Agree Reply Report Abuse

  • J.F.D SOUZA, ATTAVAR,MANGALORE

    Sun, Sep 04 2016

    What about other parties who have not paid crores of rupees. Take action against them also. Why this disparity. Bank money is public money.

    DisAgree Agree [4] Reply Report Abuse

  • Harish, Kadaba

    Sat, Sep 03 2016

    Well move, ED, please do the same with all other corrupt moneys of politicians too

    DisAgree Agree [21] Reply Report Abuse

  • PEDDU, MANGALURU

    Sat, Sep 03 2016

    MALLYA VERY WELL PLAYED WITH LOOPHOLES OF DEMOCRAZY

    DisAgree [1] Agree [11] Reply Report Abuse

  • Declan, Mumbai

    Sat, Sep 03 2016

    Dont worry Mr.Mallya on humanitarian grounds our Minister Sush aunty will order to release all your money in due course. Just prepare a nice excuse to her like the other Modi (Lalit) did.

    DisAgree [10] Agree [21] Reply Report Abuse

  • Valerian D'souza, Udupi / Mumbai

    Sat, Sep 03 2016

    Recover balance Bank/Govt dues from selling Mallya's assets held abroad!
    Poor man are squeezed like sugar cane juice for paying taxes.
    Why allow rich like him and many others to run away with it?

    DisAgree [2] Agree [28] Reply Report Abuse

  • SMR, Karkala

    Sat, Sep 03 2016

    Why there are no 'Red corner' notice from Home ministry so far to extradite 'Vijay Mallya' and 'Lalit Modi'?

    "We hear again and again the country's leaders promise to clean up the system,"."Self interest prevails over principles. That is why the system never changes."

    They have failed bringing back 'black money' in 100 days coming to power. At Least now show some reluctance nabbing the willful offenders slipped out of the country.

    Jai Hind

    DisAgree [2] Agree [21] Reply Report Abuse

  • jeevan, mangalore

    Sat, Sep 03 2016

    Modiji message is loud and clear Bure din waiting for Kai party chors....... Tihar jail doors open for Augusta chopper scam Italian waitress..

    DisAgree [67] Agree [12] Reply Report Abuse

  • Praveen, Mangalore

    Sat, Sep 03 2016

    Italian Waitress and Indian Chaiwala ,what a combination.

    DisAgree [6] Agree [31] Reply Report Abuse

  • alwynsoans, mangalore

    Sat, Sep 03 2016

    mr jeevan ,first look at your partys scam list....in my memory bjpee partys president convicted for taking bribe money from middlemen by indian judicial court ,bjpee president bangaru laxman convicted for 3 years.. what shame to bjpeee...secondly bjpee s NDA partner om prakash chauthala also convicted by indian court for 10 years...these all your group of chors...and in history of karnataka ,chief minister yeddiurappa went to parappana agrhara jail.bjpee several ministers went jail when bjpee ruling karnataka (katta s.naidu,reddy,) now who was chors..?

    DisAgree [4] Agree [28] Reply Report Abuse

  • alwyn soans, mangalore

    Sat, Sep 03 2016

    BJPEE PRESIDENT TOOK BRIBE MONEY IN TEHALKA TAPE SCANDAL.DEFENCE SUPPLYING MIDDLEMEN GAVE BUNDLES OF CURRENCY NOTES TO BJPEE PRESIDENT BANGARU LAXMAN,IN TV WHOLE WORLD SAW THAT INCIDENT,BJP LED NDA IS IN POWER AT THAT TIME...OM PRAKASH CHAUTHALA CASE 2003 TEACHERS REQUIREMENT SCAM ,OH MY GOD...

    DisAgree [2] Agree [21] Reply Report Abuse

  • alwynsoans, mangalore

    Sat, Sep 03 2016

    sorry ,teachers recruitment scam.. spelling mistake ...very sorry

    DisAgree [2] Agree [11] Report Abuse

  • jeevan, mangalore

    Sat, Sep 03 2016

    Now Mallya next Robber Varda .......

    DisAgree [53] Agree [11] Reply Report Abuse

  • HARRY DSOUZA, KODAGU / MANGALORE

    Sat, Sep 03 2016

    Jeevan,
    COMMENT WHEN YOU ACTUALLY UNDERSTAND THE ARTICLE! THIS APPLIES TO YOUR OTHER COMMENT ON AUGUSTA AS WELL!

    DisAgree [5] Agree [24] Reply Report Abuse

  • P. Shirish Kumar, Mangalore

    Sat, Sep 03 2016

    Mr. Henry, whats wrong with Mr.Jeenvan's comment?

    jeevan, mangalore Saturday,
    Now Mallya next Robber Varda ......

    Everyone have their own way of thinking & judging the issues.

    Everyone know, how much Mr.Varda looted with the support of In-Laws, why you are getting tensed when he talks about Mr. Varda?

    You give your opinion , let other express their view. Whats wrong.

    India is a democratic country and people are more free to talk during non-congi ruling.

    DisAgree [26] Agree [4] Reply Report Abuse

  • alwynsoans, mangalore

    Sat, Sep 03 2016

    robert wadra never chargesheeted in any land dealing case.after coming to power haryana bjpee govt ordered judicial enquiry about wadra s land dealing...after coming to power 1000 days completed by bjpee govt, why you not arrested mr wadra ?where is FIR,,? where is chargesheet?nothing...only bla..bla...you are aright to give your opinion but with records..not with your own opinion ..

    DisAgree [2] Agree [20] Report Abuse

  • George Lawrence, karkala

    Sat, Sep 03 2016

    Pl. see disagree for your comments

    DisAgree [4] Agree [22] Reply Report Abuse


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Title: ED attaches Vijay Mallya's assets worth Rs 6,630 crore



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