Mallya PMLA case: ED seizes fresh Rs 1,620 crore assets

With a special PMLA court allowing its plea for further attachments, ED has seized under CrPC laws fresh assets worth Rs 1,620 crore of liquor baron Vijay Mallya in connection with its money laundering case against him and others.
Officials said orders for the fresh attachment of "freezed and pledged shares" have come into force with the pronouncement of the court order yesterday and the agency will soon serve the copies of the order to all the stakeholders involved in the case, including Mallya.
The special Prevention of Money laundering Act (PMLA) court of judge P R Bhavake here had yesterday declared Mallya a 'proclaimed offender' and directed the Enforcement Directorate (ED) to attach movable properties which were listed by the agency in its plea to the court.

"The total value of these movable assets that have been seized is worth Rs 1,620 crore. This seizure is carried out under the provisions of the Criminal Procedure Code (CrPC) and will be over and above the two earlier attachments worth Rs 8,041 crore issued under anti-money laundering laws," an official said.
The court had yesterday ordered ED that freezed and pledged shares belonging to Mallya be attached by way of seizure and by prohibiting the delivery of such property to the accused or any other person on his behalf until further order.
The court had, however, rejected ED's request for attachment of the liquor baron's overseas properties.

The agency had moved the court last month seeking that Mallya be declared a proclaimed offender and his properties be attached as he did not comply with a proclamation order issued against him in June requiring him to appear before the court.

ED had sought an order from the court under section 82 (proclamation of absconding person) of CrPC as several arrest warrants were pending against him.
A person against whom a warrant has been issued can be declared a proclaimed offender if the court believes that he or she has absconded or is evading execution of warrant.
ED wanted Mallya to join the investigation "in person" in connection with probe under the PMLA, and in cases related to a Rs 900-crore loan from IDBI Bank.

It had said it had exhausted other legal remedies like seeking Interpol arrest warrant and getting his passport revoked to make Mallya join the probe.
The total attachment made by the agency in this case has now shot up to Rs 8,041 crore as it had attached assets worth Rs 1,411 crore and Rs 6,630 crore a few months back.
This is one of the largest attachment of assets made by ED in a PMLA case till now.
(Reopens DEL 57)
Meanwhile, the ED said Mallya has not cooperated with it in its investigation in the case till now.
"Mallya, who had been summoned by the Enforcement Directorate in the money laundering case has not cooperated in the ongoing investigation. He neither presented himself in pursuance of the summons issued to him by ED in March and April, 2016, nor honoured the directions dated June 21 this year of the court to appear before the court on July 29. The court had also issued non-bailable arrest warrants against him on April 20 this year.

"In view of his repetitive avoidance and non compliance, ED had filed an application before special court for PMLA to declare Mallya, a proclaimed offender under provision of section 82 of CrPC and attach his movable and immovable properties to compel the offender to join investigation," an ED statement said.
"Now on application of ED, the court has ordered attachment of shares having current market value of approximately Rs 1,620 crore.
"This is in addition to earlier attachment of movable and immovable properties worth Rs 8,041 crore (market value) under PMLA by the ED," it said.