February 28, 2017 6:16 PM

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Mallya PMLA case: Court nod to ED to attach Rs 4200 crore assets

A special court in New Delhi has confirmed the Enforcement Directorate order to attach 4,200 crore rupees assets of liquor baron Vijay Mallya and others, paving the way for their confiscation by the agency.<br/><br/>In September last year, the ED had issued the order, under the provisions of the Prevention of Money Laundering Act (PMLA), to attach the various properties including flats, a farmhouse, shares and Fixed Deposits among others in the name of Mallya and associated firms.<br/><br/>The central probe agency had earlier said that the market value of these assets was 6,630 crore rupees whereas the book value remains to be 4,234.84 crore rupees. The ED will now move to confiscate these assets.<br/><br/>The agency had alleged these assets were the proceeds generated out of criminal activity of the alleged default of bank loans.

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