ED Attaches 🍻Mallya's Assets Worth ₹6,630 cr‼

  |   India News

The Enforcement Directorate (ED) gave its 2⃣nd attachment order for assets worth ₹6,630 crore💰 against Vijay Mallya🍻 in a fresh case of alleged cheating registered by the CBI🕵 earlier this month. The value of the assets attached under the Prevention of Money Laundering Act📄 has reached ₹4,234.84 crore and includes the shares of United Spirits Ltd, United Breweries Ltd & Macdowell Holding Co🏭. The CBI had registered the case after a consortium led by State Bank of India had filed a complaint👉 against Mallya and his companies Kingfisher Airlines✈ & UBHL after Mallya moved to the court⚖ against the banks claiming that their guarantees were taken through coercion😯. The ED launched a money laundering investigation🔍 based on the CBI case which revealed that over ₹3,500 crore of the loan funds were remitted outside India on the pretext of payments of lease rentals & repair without providing proper lease agreements to that effect and many irregularities were found as well. The ED further alleged that the Mallya and UBHL had no intention to repay the dues😱 to the banks even though sufficient funds were available through a large number of shares held in the name of other group companies controlled directly or indirectly by Mallya. A total principal amount of ₹4,930.34 crore💸 remains unpaid.

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