PTINEW DELHI: Businessman Vijay Mallya's property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday.
It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property is located at 32 Avenue FOCH in France.
The value of the seized asset is Euro 1.6 million that is worth about Rs 14 crore, the central probe agency said in a statement.
Investigations conducted under the Prevention of Money Laundering Act revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines Ltd. (KAL) for creation of the asset, it said.
Mallya, an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, is in the UK since March 2016. He is on bail on an extradition warrant executed three years ago by Scotland Yard on April 18, 2017.
The Centre had on October 5 told the apex court that Mallya cannot be extradited to India until a separate secret legal process in the UK, which is judicial and confidential in nature, is resolved.
It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property is located at 32 Avenue FOCH in France.
The value of the seized asset is Euro 1.6 million that is worth about Rs 14 crore, the central probe agency said in a statement.
Investigations conducted under the Prevention of Money Laundering Act revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines Ltd. (KAL) for creation of the asset, it said.
Mallya, an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, is in the UK since March 2016. He is on bail on an extradition warrant executed three years ago by Scotland Yard on April 18, 2017.
The Centre had on October 5 told the apex court that Mallya cannot be extradited to India until a separate secret legal process in the UK, which is judicial and confidential in nature, is resolved.
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5 Comments on this Story
 | Vowel Records47 minutes ago isse kehte hai jaate chor ki langoti... |
| Surendra Sachdeva48 minutes ago There are lots of Corporate honchos in India who lives here and owes lakhs of Crores of Banks and not paying back inspite of having jets,cars,sea facing bounglows ,enjoying lavish life.Top cells are investigating since long.Few of them destroyed the Yes Bank and life of millions of small investors,account holders.Who no action against defaulter who are roaming freely in India? |
| Ashu Bajaj53 minutes ago kare koye sarkar aur blame current govt ko. Vikas Singh jee this is not correct. Loan pe Loan deya Cong ne, comession khaya alag aur badnam Modi. wha. |