ED seizes Vijay Mallya's assets worth 1.6 million euros
New Delhi : In a new development in Vijay Mallya's case, the ED has seized his assets in France worth 1.6 million euros.
The ED released a statement, saying that the French authorities have seized his property on their instructions. The ED further added that the investigations revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines.
"On the request of Directorate of Enforcement (ED), a property of Vijay Mallya located at 32 Avenue FOCH, France has been seized by the French Authority. The value of the seized asset in France is 1.6 million euros (Rs 14 crore). Investigations revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines Ltd," the ED said in a statement.
This comes at a time when India is taking all possible measures to extradite Vijay Mallya from the UK. Vijay Mallya is wanted for defaulting a loan of Rs 9,000 crores. He is staying in UK since March 2016 and has been fighting his extradition to India.
Moreover, he was ordered by a British court in May but has been delayed by "secret proceedings" initiated in the country. Mallya, who denies all charges made against him, has repeatedly said that Indian banks can take back 100 per cent of the principal amount owed to them.