The Directorate of Enforcement (ED) confiscated the assets of the fugitive Vijay Mallya worth 1.6 million euros in France on Friday. The property was seized under the anti-money laundering law by the French authorities after ED’s request.
The action was taken by French authorities “at the request of the Directorate of Enforcement” and the property is located at 32 Avenue FOCH in France, the central investigating agency said in a statement.
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In Indian currency, the value of the asset seized is approximately 14 million rupees.
Former liquor baron Mallya is wanted in India on charges of fraud and money laundering in connection with loans obtained by his now-defunct Kingfisher Airlines from state-owned Indian banks. According to the banks’ claims, Mallya owes Rs9,000 crore in principal and interest to the banks in India.
The government of India is trying to extradite Mallya from the UK, where she has lived since March 2016. She is free on bail because the British court delayed her extradition on a confidential legal matter.
In October this year, the UK government had also indicated that Mallya is unlikely to be extradited to India anytime soon, saying there is a legal issue that must be resolved before her extradition can be arranged.
The extradition was ordered by the British court after Mallya exhausted all legal remedies.
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