Vijay Mallya’s assets worth Rs 14 crore seized in Paris

NEW DELHI: French government have seized fugitive liquor baron Vijay Mallya’s assets in France value 1.6 million (Rs 14 crore) in accordance with a request made via ED.
As in line with ED, his seized assets is positioned at 32, Road Foch, Paris. The asset was once created via allegedly laundering financial institution loans availed via Mallya the use of his Kingfisher Airways Ltd. Mallya has defaulted on loans of over Rs 9,000 crore taken from public sector banks. The company has connected his houses value over Rs 11,000 crore.
Mallya has already been declared a fugitive financial culprit and his extradition from the United Kingdom is in growth. A chargesheet has been filed in court docket towards him and a non-bailable arrest warrant is pending.
“Extradition request of Vijay Mallya was once despatched to UK, and the Westminster’s Justice of the Peace’s court docket has dominated for his extradition on fees of cash laundering on December 10, 2018,” the ED mentioned. Mallya later appealed to the United Kingdom Top Courtroom and the Ideally suited Courtroom however his software for reduction was once rejected with the upper courts upholding the decision of the Westminster’s court docket.