Mallya’s Property Worth Rs. 100 Crore Taken Over By ED

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After getting a nod from a Tribunal on Tuesday, the Enforcement Directorate (ED) took possession of Vijay Mallya’s 17-acre beach-facing farmhouse in Alibaug on Thursday. The property is estimated to be worth Rs. 100 Crore. Mallya had moved to a Tribunal after receiving the eviction notice for the same property from ED on April 25 last year. However, the tribunal dismissed the plea. Mallya is currently out on bail after he was arrested by Scotland Yard in connection with his money laundering cases in India. Mallya owes around Rs. 9000 crores worth loan to many banks. The estimated values of his properties are Rs. 11000 crore out of which Rs. 9000 worth properties are already attached by ED.

Source – Times Of India

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