The special PMLA court yesterday declared liquor baron Vijay Mallya as a proclaimed offender and allowed the Enforcement Directorate (ED) to attach his movable property — shares and debentures worth Rs 1,694.42 crore
Vijay Mallya
The special PMLA court yesterday declared liquor baron Vijay Mallya as a proclaimed offender and allowed the Enforcement Directorate (ED) to attach his movable property — shares and debentures worth Rs 1,694.42 crore.
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Judge PR Bhavake in his order said, “It is pronounced and declared that the accused Vijay Mallya is a proclaimed offender. The movable properties — frozen and pledged shares — belonging to the accused be attached by way of seizure and by prohibiting the delivery of such property to the accused or to any other person on his behalf until further order.”
The application filed by ED in October 2016 mentioned two charts of Mallya’s property, one of shares worth Rs 1,482.93 crore pledged with various institutions, and the second of unpledged shares worth Rs 2,11.49 crore frozen by the agency.
The application was filed after Mallya did not comply with a proclamation order issued against him.
Mallya is accused of taking a Rs 900 crore loan from the IDBI bank. He left the country this March without taking cognisance of court order to be present before it.
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