New Delhi: Fugitive Businessman Vijay Mallya’s property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday.
It said the action was undertaken by French authorities “on the request of the Enforcement Directorate” and the property bears the address: 32 Avenue FOCH in France.
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.
Investigations conducted under the Prevention of Money Laundering Act revealed that “a large amount was remitted abroad from the bank account of Kingfisher Airlines Ltd (KAL)” for creation of the asset, it said.
Mallya, 64, an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, is in the UK since March, 2016. He is on bail on an extradition warrant executed three years ago by Scotland Yard on April 18, 2017.
Here is a timeline of Vijay Mallya’s Case:
*On 2 March 2016, Vijay Mallya reached London.
*On 21 February 2017, India’s extradition request certified by Home secretary.
* On 18 April 2017, Vijay Mallya was arrested in London. He was also given a bail on the same day.
* His Indian passport was revoked on 24 April 2017.
* He resigned from Rajya Sabha membership on 2 May 2017.
*Case management and extradition hearing commenced in Westminster Magistrate Court on 13 June 2017.
*On 10 December 2018, Chief Magistrate Emma Arbuthnot approves the extradition and sends the file to the Home Secretary.
*On 3 February 2019, the Home Secretary ordered extradition to India.
* On 5 April 2019, Judge David of the High Court of England and Wales refused permission on papers to appeal.
*July 2, 2019, In an oral hearing, Judge Leggatt and Judge Popplewell allow permission to appeal on the ground that the Arbuthnot was wrong to conclude that India had established a prima facie case against Mallya.
*May 11-13, 2019, Judge Irwin and Judge Laing hear appeal.
*April 20, 2020, Appeal dismissed, the case went to the Home Secretary for final decision.