Vijay Mallya's Assets In France Worth 1.6 Million Euros Seized By ED

The Enforcement Directorate has seized fugitive billionaire Vijay Mallya’s asset in France worth 1.6 Million Euros.

(Photo by Tolga AKMEN / AFP)

The Enforcement Directorate has seized fugitive billionaire Vijay Mallya’s asset in France worth 1.6 Million Euros. 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. 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 ED had registered a case of money laundering based on an FIR registered by the CBI against Kingfisher Airlines Ltd (KAL), Mallya and others on January 25, 2016. The financial probe agency has so far attached assets to the tune of Rs 11,231.70 crore of Mallya, which has also been confirmed by the adjudicating authority. The ED has also filed a chargesheet against Mallya, United Breweries Holdings Ltd (UBHL), KAL, bank officials and others. The liquor baron has been living in the UK since he fled India on March 2, 2016. Mallya is the first accused in India to be booked under the new Fugitive Economic Offenders Act. In 2019, a Mumbai court named Mallya as an offender under the Act, empowering the probe agencies to seize his properties and assets spread across the world. (This is a breaking news story)