Enforcement Directorate seizes Vijay Mallya’s assets in France worth 1.6 Million Euros

The French Authority on Friday seized a property of Vijay Mallya in France on the request of the Enforcement Directorate (ED). The fugitive businessman's property, valued at 1.6 Million Euros was seized by the French Authority based on ED's investigation under the Prevention of Money Laundering Act (PMLA). As per the investigative body, the property was brought after a large amount of money was siphoned off from Kingfisher Airlines' bank account.

"On the request of Directorate of Enforcement (ED), a property of Vijay Mallya located at 32 Avenue FOCH, France has been seized by the French Authority. The value of the seized asset in France is 1.6 Million Euros (approx. Rs 14 crores). Investigations conducted under PMLA revealed that a large amount was remitted abroad from the bank account of M/s. Kingfisher Airlines Ltd. (KAL)," the ED said in an official statement. 

Read: Vijay Mallya Skips SC Hearing Due To 'secret Proceedings' In UK; Matter Adjourned To Nov 2

Read: Vijay Mallya's Lawyer Asks SC To Discharge Him Citing Client's Non-cooperation; Rejected

Vijay Mallya's extradition 

As per the latest development into the extradition case of Vijay Mallya, the Supreme Court has asked the Centre to file a status report in six weeks from November 6 on the fugitive businessman's extradition proceedings in the UK. This comes after the Centre on October 5 told the apex court that Mallya cannot be extradited to India until a separate “secret” legal process in the United Kingdom, which is “judicial and confidential in nature", is resolved. The beleaguered businessman has exhausted all the avenues for appeal against the Westminster Magistrates' Court's decision ordering his extradition.

Notably, MEA official spokesperson Anurag Srivastava has said that the Centre was in continuous touch with the UK government to ensure that Mallya is extradited at the earliest. This comes amid the speculation that Mallya might opt for political asylum, which could delay the extradition process.

Mallya faces serious charges of fraud and money laundering pertaining to the amount borrowed by Kingfisher Airlines (KFA) from several Indian banks. He has been out on bail in the UK since his initial arrest in April 2017. In 2019, he became the first person to be declared as a fugitive economic offender on a plea of the Enforcement Directorate. 

Read: 'Secret' Extradition Proceedings Going On To Bring Mallya: Centre Tells SC

Read: 'Vijay Mallya Can't Be Extradited Until Completion Of Secret Proceedings In UK': MEA