Vijay Mallya's 100 - Crore Farmhouse In Maharashtra Confiscated
The Enforcement Directorate or ED today confiscated a Rs. 100 - crore worth beachside farmhouse in Maharashtra's Alibaug "controlled" by beleaguered liquor baron Vijay Mallya in connection with its money laundering probe against him.
Vijay Mallya's 100 - crore farmhouse is in Alibaug in Raigad district of Maharashtra.
Maharashtra's Alibaug "controlled" by beleaguered liquor baron Vijay Mallya in connection with its money laundering probe against him.
The property, spread in 17 acres, was provisionally attached by the agency last year in September under the provisions of the Prevention of Money Laundering Act (PMLA).
The Enforcement Directorate had served eviction orders to the occupants in April this year after the owners failed to get any relief from appellate bodies.
"This property belongs to Ms Mandwa Farms Private Limited which was being controlled by Mallya, " the agency said in a statement.
An ED team, from its zonal office in Mumbai, today pasted the possession orders on the farmhouse, which has an adjoining beach.
While the registered value of the property is Rs. 25 crore, the ED said, its market value is over Rs. 100 crore.
Source: NDTV News