ED seizes Vijay Mallya's assets worth Rs 6,630 cr

The Enforcement Directorate (ED) on Saturday issued its second attachment order for the properties and valuables worth '6,630 crores of beleaguered businessman, Vijay Mallya

The Enforcement Directorate (ED) on Saturday issued its second attachment order for the properties and valuables worth '6,630 crores of beleaguered businessman, Vijay Mallya. The assets include a plush 22-acre-farm house in Mandwa beach, Raigad, multiple flats in Kingfisher Towers, Bengaluru and fixed deposits in various banks across the city.

ED recently took over the investigation of the alleged loan default by Mallya’s Kingfisher Airlines of '6,027 crores availed from a consortium of national banks led by State Bank of India (SBI). Officials had earlier attached '1,411 crore worth of assets, but now with the latest attachment, the total market value has risen to '8,041 crores, revealed the ED’s Twitter account.

“We have seized a 22-acre farmhouse in Mandwa costing close to '200 crores, several flats in Kingfisher Towers in Bengaluru worth '500 crores along with shares of Mcdowell Holiding, United Breweries and USL. We have also seized fixed deposits to the tune of '10-12 crores,” said the ED official. Joint Director, ED, Satybrata Kumar, confirmed the attachment.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!