Vijay Mallya’s assets worth nearly Rs 14 crore seized in France, says ED
On the request of the Enforcement Directorate (ED), French authorities have seized a property of fugitive businessman Vijay Mallya in France worth nearly Rs 14 crore. The value of the seized asset is Euro 1.6 million that is worth about Rs 14 crore, the central probe agency said in a statement.
The ED said in a statement that the action was undertaken by French authorities “on the request of the Enforcement Directorate” and the property is located at 32 Avenue FOCH in France.
As per investigations conducted under Prevention of Money Laundering Act, 2002 (PMLA), it was found that a large amount was remitted abroad from the bank account of M/s. Kingfisher Airlines Ltd. (KAL).
