The Enforcement Directorate (ED) on Friday said it has seized fugitive businessman Vijay Mallya’s asset in France worth 1.6 million Euros
“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),”the agency said in a statement.
Investigation conducted under Prevention of Money Laundering Act (PMLA) revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines Ltd. (KAL).
The ED had earlier initiated investigation under PMLA based on FIR registered by CBI against Kingfisher Airlines Ltd. (KAL), Vijay Mallya and others on January 25, 2016.
