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ED takes over Mallya's Rs 100-crore Maharashtra farmhouse

IANS  |  New Delhi 

The on Thursday took over baron Vijay Mallya's Maharashra-based Mandwa farmhouse valued at around Rs 100 crore, an official said.

The 17-acre farmhouse at Mandwa in Raigad district was attached by the ED on February 22 under the Prevention of Money Laundering Act, he said.

"An eviction notice was issued on April 25 for vacating the farmhouse with a registry value of Rs 25 crore. The present market value of the property is an estimated Rs 100 crore," the official said.

Mallya, who fled to Britain in March 2016 after he was pursued for the recovery of Rs 8,191 crore in debt, which his now-defunct Kingfisher Airlines owes to a consortium of 13 Indian banks led by the State Bank of India, was arrested and bailed out in London last month.

--IANS

rak/tsb/vt

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 18:10 IST
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