Tue, Oct 25, 2016 | updated 05:05 AM IST

ED attaches Mallya's properties, shares worth Rs 6,630 crore

Updated: Sep 03, 2016 16:07 IST
New Delhi [India], Sept. 3 (ANI): The Enforcement Directorate on Saturday attached the assets, properties, and shares of liquor baron Vijay Mallya, total worth amounting to Rs. 6,630 crores.

The properties that have been attached are located in Mumbai, Bengaluru and other cities across the country.

The Enforcement Directorate has attached properties of worth Rs. 4234.84 crore which include Mandwa Farm House, Alibaugh (Rs.25 crore), flats in Kingfisher Tower, Bengaluru, (Rs. 565 crores), fixed deposits of Mallya with HDFC (Rs. 10 crore), shares of USL,UBL and Macdowell Holding Co. held by Mallya/ UBHL and his controlled entities (Rs.3635 crore).

"Present Market value of the above attached properties is Rs.6630 crore approximately. So far, ED Mumbai has attached properties of Dr. Mallya and his companies having market value more than Rs. 8000 crores," said the Enforcement Directorate.

The Enforcement Directorate is investigating two separate money laundering cases against Mallya and others where they allegedly defrauded banks after defaulting loan payment. The agency is investigating a money laundering case against Mallya where he defaulted Rs. 900 crore loan payment to IDBI bank.

The business tycoon had also defaulted around Rs 9400 crore loan payment to consortium of 17 banks led by SBI.

Mallya flew to London on March 2 just days before a consortium of lenders knocked on the doors of the Supreme Court to recover the debt.

Mallya has denied all accusations and said that he was in talks with the banks to settle the loans.(ANI)