Mallya Loses Rs 100 crore Farm House

The Enforcement Directorate has confiscated Rs 100-crore worth beach side farm house, owned by liquor baron Vijay Mallya, in connection with money laundering case pending against him. The farm house is in Alibaug in Raigad district of Maharashtra.

The property was spread in 17 acres and registered in the name of MS Mandwa Farms Private limited controlled by Mallya, the agency said the Directorate had served eviction orders to the occupants in April this year after the owners failed to get any relief from appellate bodies.

The authority also pasted the possession orders on the farm house, which has an adjoining beach. The registered value of the property is Rs 25 crore and the market value is over Rs 100 crore.

The ED is probing Mallya and others under criminal charges of money laundering in the alleged Rs 900 crore IDBI bank default case. Before his arrest, Mallya left to London and absconded for some time. He was arrested recently in UK and got bail immediately also.

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Categories: Political News
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