The Enforcement Directorate (ED) is likely to seize foreign assets/properties belonging to Vijay Mallya under CrPC.
Earlier, the ED had attached properties worth over 8K crore of Vijay Mallya under Prevention of Money Laundering Act.
The properties attached by the ED, that are located in Mumbai and Bengaluru among other cities, included a Rs 200 crore farmhouse, a mall worth 800 crore, and several of Mallya’s stocks. Mallya’s passport has also been revoked.
Mallya’s shares in UBL and USL, that amount to over Rs 3000 crore has also been attached along with an apartment he owns.
The State Bank of India, among other banks, revealed to the apex court last week that Mallya hadn’t disclosed all of his asssets, that include the $40 million he receievd earlier this year from a british firm.
Following the revelation, the SC issued a notice to Mallya, awaiting a response.
On July 14, attorney general Mukul Rohatgi revealed that Mallya had in fact misled the court and hadn’t fully disclosed his assests to the apex court. He also asserted on the existence of other information that Mallya hadn’t revealed to the court.