ED seizes Mallya's Rs 100 cr farm villa

Ivan Schwartz
May 19, 2017

The Enforcement Directorate (ED) on Thursday took possession of a Rs 100 crore farmhouse owned by liquor baron Vijay Mallya.

Mallya, accused of defrauding banks of loans worth Rs 9,000 crore, was declared a proclaimed offender by a Mumbai court previous year and is also facing a money-laundering case.

"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 confiscation came after following due rules including notice of eviction that was being served to the occupants in April after the owners failed to get any respite from the appellate body after its appeal was rejected couple of days back.

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

In the wake of a massive operation to recover Rs. 8,191 crore he owes to Indian banks, Mallya fled to Britain in March 2016.

Mallya is facing money laundering charges and is now out on bail after the Scotland Yard arrested him in London recently. The agencies have alleged that the loan was disbursed merely on the basis of Aggarwal's conversation with Mallya. The action comes after a notice challenging the attachment of the farm house was dismissed by the Appellate Tribunal in New Delhi earlier this week. The farmhouse is registered in the name of Mandwa Farms Pvt Ltd, which is controlled by Mallya, said ED officials. The ED is now seeking his deportation from London and has submitted evidences to the counsel representing India's case before a London court seeking his custody. Mallya was arrested by Scotland Yard on April 18 and later released on bail.

This paved the way for the ED to take over the property, the official said. He has been absconding and refused to appear before the investigating agencies which led the courts to issue non-bailable warrant against him.

Other reports by GizPress

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