ED attaches Vijay Mallya’s properties worth Rs 1411 crore in loan default case

NEW DELHI:Taking forward their offensive against liquor baron Vijay Mallya, ED on Saturday attached properties worth Rs 1,411 crore belonging to the industrialist and UB Holding Limited in IDBI loan default case.

According to The Hindu, assets including bank balance of Rs. 34 crore , two flats in Bengaluru and Mumbai, industrial plot in Chennai, coffee plantation land in Coorg, several industrial spaces in Bengaluru among others have been attached.

On Friday, ED had asked PMLA court to declare a proclaimed offender in connection with its money laundering probe against him in an alleged bank loan fraud case.

Officials said the agency has made a plea to the court to issue an order under Section 82 of the Criminal Procedure Code (CrPC) and term him a proclaimed offender as Mallya has “multiple” arrest warrants pending against him including a non-bailable warrant (NBW) under the Prevention of Money Laundering Act (PMLA). They said the court may pronounce its order on the Enforcement Directorate plea on June 13.

“There are multiple arrest warrants pending against Mallya in various cases like that of cheque bounce and he is also wanted in a money laundering case. The agency has briefed the court about the status of investigations in the case and the need to get Mallya join probe,” they said, adding the agency has moved the same anti-money laundering court in Mumbai in this regard which had earlier issued an NBW against him.

A person can be termed a proclaimed offender in a criminal case probe if the court has reasons to believe that the accused against whom a warrant of arrest has been issued by it, has absconded or is concealing himself so that such warrant cannot be executed.ckbacks to secure loans.

With Agency inputs