Vijay Mallya gets tough blow, High Court ordered to seize assets of London

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Vijay Mallya gets tough blow, High Court ordered to seize assets of London

 

 

The UK High Court has given a big jolt to the fugitive businessman Vijay Mallya. The High Court has allowed the Mallya’s London properties to be searched and seized on the petition of the union of 13 Indian banks.

 

After the order of the High Court, the UK enforcement officer, Mallya, 62, will be able to locate the property in Hertfordshire, located near London.

The UK High Court has allowed officers and their agents to search in Ladwin and Bramble Lodge in Teven, Wellwin. At present, Mallya lives here. It is worth mentioning that Mallya is accused of fraud and money laundering. It has the value of Rs 9,000 crore in loans with banks. Along with this, Mallya is opposing the handing over of India to India.

 

 

Banks got options

This order for searching is not only for these places. But Banks got an option to use this order to recover the amount of 1.145 billion pounds. In the order written by Judge Byron on June 26, it has been said that the enforcement officers of the High Court and the agents working under them can enter Ladywalk and Bremble Lodge, Queen Hu Lane, Teven, Wellin and search there and find Mallya Can seize things related

It was said in the order that the enforcement officers of the High Court can use force to penetrate these places as needed. At the same time, according to experts who have been aware of the matter, permission has been granted for the order of the Queen Bench Division of the High Court. While, the banks are considering options for the use of force present in their presence.

Mallya’s 159 properties were identified, but no marks were found  

Bangalore Police said in a Delhi court Thursday that it has identified 159 properties of fugitive businessman Vijay Mallya. Further, a money laundering case filed against him by the Enforcement Directorate (ED) regarding the FERA violation. As, the police could not charge any of these properties. Hence, ED of Mumbai region had cleared some of these and the remaining assets are part of liquidation process. Due to escaping summons in this case, the court had declared Mallya a fugitive on January 4.

Further ED Special Public Prosecutor NK Motta told the court that the agency needs more time to identify such other properties of Mallya.  The court accepted the agency’s request and instructed the Bangalore police to file a new report by October 11.

Banned in India by BitQuinn, today, all the exchanges including Jabpe have made transactions in rupees. Further,  Matta said that the Bangalore Police contacted United Breweries legal advisor. They contact to carry out the attachment order. At last, court gave this order in May. Legal advisor said that ED Mumbai has seized some of these assets. Karnataka high court appointed an official liquidator, who kept the other assets.

 

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