IDBI LOAN CASE: ED AT­TACHES MALLYA AS­SETS WORTH `1,411CR

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - HT Cor­re­spon­dent ht­metro@hin­dus­tan­times.com

MUM­BAI: The En­force­ment Direc­torate (ED) at­tached move­able and im­mov­able prop­er­ties worth Rs1,411 crore of busi­ness­man Vi­jay Mallya and United Bre­waries (Hold­ing) Lim­ited un­der the Preven­tion of Money Laun­der­ing Act (PMLA) on Satur­day.

The pro­vi­sional at­tach­ment in­cludes bank bal­ance of Rs34 crore, one flat each in Ben­galuru and Mum­bai, an in­dus­trial plot in Chen­nai, cof­fee plan­ta­tions in Coorg and prop­erty in UB CITY and King­fisher Tower ar­eas of Ban­ga­lore.

A tweet from ED’s of­fi­cial han­dle read: “ED has at­tached prop­er­ties worth Rs1,411 crore of Mar­ket Value of Vi­jay Mallya and UB (Hold­ing) Ltd un­der PMLA (Preven­tion of Money Laun­der­ing Act) in King­fisher Air­lines’ IDBI Bank case.”

Mallya, whose de­funct air­lines owes more than Rs9,000 crore to var­i­ous banks, left In­dia on March 2.

The probe agency said in­ves­ti­ga­tions show the ac­cused was dis­pos­ing of prop­er­ties to en­sure “fur­ther pro­ceed­ings un­der PMLA may be frus­trated”. >> CON­TIN­UED ON P7

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.