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Enforcement Directorate attaches Mallya assets worth Rs 1,411 crore

Enforcement Directorate

The Enforcement Directorate (ED) on Saturday attached properties of the liquor baron Vijay Mallya, worth Rs1,411 crore, in the IDBI Bank loan default case, according to a published media report.

“We have attached properties worth Rs 1,411 crore of Vijay Mallya and UB limited under the Prevention of Money Laundering Act,” an ED official was quoted in the report as saying.

The assets under ‘provisional attachment’ included bank balance of Rs34 crore, a flat each in Bengaluru and Mumbai (2,291 sqft and 1,300 sqft respectively), an industrial plot in Chennai (4.5 acres), a coffee plantation land in Coorg (28.75 acres) and residential and commercial constructed areas in UB City and Kingfisher Tower in Bengaluru.

The attachment of properties is in connection with the Rs900-crore loan fraud with the IDBI Bank.

The agency registered a money laundering case against Mallya and others based on an FIR registered last year by the CBI.