Vijay Mallya Questions ED's Rationale To Attach Properties In Money Laundering Case

13/06/2016 10:29 AM IST | Updated 15/07/2016 8:27 AM IST
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Formula One - F1 - United States Grand Prix 2015 - Circuit of the Americas, Austin, Texas, United States of America - 23/10/15 Force India team owner Dr. Vijay Mallya during a press conference Mandatory Credit: Action Images / Hoch Zwei Livepic EDITORIAL USE ONLY. PLEASE NOTE: FOR UK EDITORIAL SALES ONLY. FOR ALL OTHER USAGE ADDITIONAL FEES WILL APPLY - PLEASE CONTACT YOUR ACCOUNT MANAGER. *** Local Caption *** --

Liquor baron Vijay Mallya has accused government agencies of pursuing a “heavily biased investigation," questioning the rationale of the Enforcement Directorate (ED) to go after the properties allegedly attached to the money laundering case against him.

Mallya, former Rajya Sabha member and chairman of United Breweries Group, on Sunday strongly objected to ED’s move and the motives of the ongoing investigation into the Rs 900-crore loan default of now grounded Kingfisher Airlines.

In a statement, he said that the latest ED move will make it difficult to raise money to repay the banks associated with the default.

"Most recent media reports and a tweet from the ED suggest that the ED have attached various properties belonging to myself and United Breweries Holdings Limited which is a public Company and not even the subject of any ED investigation, Mallya said in a statement widely reported in the media.

“The assets purportedly attached under PMLA date back to several years prior to the launch of Kingfisher Airlines. There is no rationale nor any legal basis for the series of actions initiated by the ED."

On Saturday, ED indicated it would attach properties worth Rs 1,411 crore of Mallya and affiliates entities of the United Group, a holding company, in relation to the loan default and the money laundering investigation. According to Mint, the properties in question include eight immovable properties including an apartment in Bengaluru and Mumbai, an industrial plot in Chennai, and a coffee plantation plot in Coorg a residential and commercial constructed area in UB City and the Kingfisher Tower in Bengaluru.

Last month, Mallya left India for the UK in the midst of the controversy, and has publicly denied accusations of graft and lashed out at the draconian methods of the Indian authorities aiming to recover money from him. The UK has said it will consider a request to extradite him, but had earlier denied requests to deport him.

In the statement, Mallya said the latest ED move appears to include "to approach the PMLA Court to declare me a proclaimed absconder for reasons that I cannot understand."

He has maintained that he left India on a routine visit to the UK, and at the time of his departure on March 2, no summons had been issued against him.

With PTI inputs

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