ED attacches Mallya’s assets worth Rs 6,630 crore

Mallya’s farmhouse, flats and fixed deposits were forfeited in connection with the money laundering case. 

The total attachment made by the agency in this case has now shot up to Rs 8,044 crore as it had already attached assets worth Rs 1,411 crore a few months back. 

The provisional attachment order, issued under the provisions of the Prevention of Money Laundering Act, said it had ordered for seizing a farm house in Mandwa in Alibaugh worth Rs 25 crore, multiple flats in Kingfisher Tower in Bengaluru worth Rs 565 crore, fixed deposits of Mallya with a private bank to the tune of Rs 10 crore and shares of USL, United Breweries Limited and Mcdowell Holding Company, jointly held by the liquor Baron and UBHL and his controlled entities, worth Rs 3,635 crore. 

“The total attachment under Saturday’s order is worth Rs 4,234.84 crore but the present market value of these assets is Rs 6,630 crore approximately,” the ED order said. 

“They intentionally kept the huge number of shares approximately worth Rs 3,600 crore pledged and thus kept the consortium of banks in the dark,” the ED order added.