Vijay Mallya’s Assets in France Worth 1.6 Mn Euros Seized by ED

The Quint
·1-min read

The Enforcement Directorate has seized Vijay Mallya’s assets in France worth 1.6 million euros, news agency ANI reported on Friday, 4 December.

A “confidential legal issue” has held up the extradition of the fugitive business tycoon from UK to India. Earlier in November, the Ministry of External Affairs announced that the Indian government is following up with the British authorities, but no timeline has been indicated for the extradition as of yet.

Vijay Mallya is wanted in India for defaulting on loans worth Rs 9,000 crore. Upon threat of persecution, he fled to the UK in March 2016 and has since challenged the Indian government’s extradition order on charges of fraud and money laundering in connection with unrecovered loans to his now-defunct Kingfisher Airlines.

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