The Enforcement Directorate today confiscated beleaguered liquor baron Vijay Mallya's 17-acre Mandwa farmhouse in Raigad district of Maharashtra valued at around Rs 100 crore. In February 2017, the adjudication authority had confirmed the attachment. A senior ED official said the evidences submitted before a special court in Mumbai, which had past year issued a non-bailable arrest warrant against the beleaguered businessman, would serve as proof against Mallya to get his custody.
The ED is probing Mallya and others under criminal charges of money laundering in the alleged Rs 900 crore IDBI bank default case. "The present market value of the property is an estimated Rs 100 crore", the official said. Official stated they put locked the farmhouse and the garage inside the farmhouse where Mallya's vintage cars were parked. The action comes a day after the appellate tribunal New Delhi under the Prevention of Money Laundering Act had dismissed an appeal filed by Mandwa Farms Pvt Ltd against allowing Enforcement Directorate to take possession of its property controlled by Vijay Mallya.
On April 25, the ED served an eviction order, asking the company to vacate the property, which has a registry value of Rs. 25 crore, and is provisionally attached to the premises.More news: Conor McGregor: I have signed deal, now up to Floyd Mayweather
Before his arrest, Mallya left to London and absconded for some time.
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). He was arrested recently in United Kingdom and got bail immediately also.
Mallya owns more than Rs 9,000 crore to a consortium of banks.