The Enforcement Directorate on Saturday attached properties worth Rs 1,411 crore belonging to former liquor baron Vijay Mallya and the holding company of United Breweries, which he used to run. The ED said the move was related to a case in which Mallya allegedly diverted Rs 430 crore from an IDBI bank loan to his now defunct Kingfisher Airlines. Mallya used the money to buy properties abroad, the ED said.
The announcement was made on Twitter, with the ED saying the properties of Mallya and UB (Holding) were attached under the Prevention of Money Laundering Act. An official told PTI that this included eight properties in Coorg, Mumbai, Bengaluru and Chennai, as well as a bank account that held Rs 34 crore. However, it might take some time for the property to go up for sale as legal procedures need to be followed, the official said.
Mallya is at the centre of several loan defaulting cases. He owes a consortium of Indian banks Rs 9,000 crore. Over the past few months, the banks and ED have sharpened their attack on him. Mallya left the country on March 2 after stepping down as head of United Spirits. He has said he has no plans to return and claims he is on a "forced exile". The Ministry of External Affairs had revoked Mallya's passport last month, and will reportedly begin the process of extraditing him, after the United Kingdom said it could not deport him as he has a valid residence permit.