Hitting once again Vijay Mallya where it hurts, the Enforcement Directorate (ED) on Thursday took possession of a seafront farmhouse of the fugitive businessman, who is investigated in various cases seeking recovery operation of Rs 8,191 crore owed by him to various Indian banks,
The 17-acre farmhouse with a beach, which is valued at Rs 100 crore, is located in the picturesque Kolegaon village of Mandwa near the tourist hotspot of Alibaug in Raigad district in coastal Konkan region.
The property belongs to Mandwa Farms Pvt. ltd. (MFPl) which is controlled by Mallya who is currently in the United Kingdom and declared ‘absconder’ by a Mumbai court.
The ED had earlier on April 25 served an eviction order to the MFPl, instructing the company to vacate the property with a registry value of Rs 25 crore, and provisionally attached the premises.
The provisional attachment order was later confirmed by the Adjudicating Authority of Prevention of Money laundering Act .
The MFPl later challenged the move in a tribunal seeking a stay on the order, which was rejected and the plea dismissed on Tuesday.