An ED team, from its zonal office in Mumbai, today pasted the possession orders on the farm house, which has an adjoining beach.
Before the tribunal, the ED submitted that the attached property is controlled by Mallya who is required to pay an amount of approximately Rs 9000 crore to various financial institutions and has been declared as an absconder.
The matter was discussed during the first ever India-UK Home Affairs Dialogue, during which extradition issues, including that of fugitive businessman Vijay Mallya, also came up.
Siddharth Mallya, son of liquor baron Vijay Mallya who was recently arrested in London and released on bail for his alleged role in Rs 9000 crore bank loan default case, posted a video on Facebook, thanking people who supported him in difficult times.
His arrest is a welcome first step. Now follow up this case, while also bringing in systemic reforms to address bad loan crisis
India has failed to secure extradition in many high-profile cases, including that of former IPL chairman Lalit Modi, Navy war room leak suspect Ravishankaran and Purulia arms drop case accused Kim Davy.
Police say held on behalf of Indian authorities; CBI sending team to UK
Vijay Mallya’s extradition itself may not be as easy as India falls under a secondary category of countries, extradition to which are a long and arduous process.
Vijay Mallya, who is wanted in several cases related to economic offences, is likely to be extradited to India. He is also wanted on bank default cases amounting to crores of rupees.
Vijay Mallya had fled the country and sought refuge in the United Kingdom, after a lookout notice was issued against him.
The Enforcement Directorate had registered a case under now defunct Foreign Exchange Regulation Act (FERA) against Mallya.
The ED has been wanting Vijay Mallya to join the probe in the case “in person” and had issued multiple summonses to him but could not get success as the businessman, who is in the Britain, never deposed before it.
We made a request, but now it’s for British authorities to take further action, said MEA.
The judge said the assets of the respondent company cannot be left under the control of UBHL and could be handed over to official liquidator to achieve the winding up process as per the law.
The CBI in its charge-sheet last week accused Mallya’s Kingfisher Airlines of diverting Rs 263 crore from Rs 900 crore IDBI loan for “personal use”.