UK court grants enforcement order in Mallya assets case

Source: The Hitavada      Date: 06 Jul 2018 09:07:42


 

LONDON,

A UK High Court judge has issued an enforcement order in favour of a consortium of 13 Indian banks, seeking to recover funds owed to them by beleaguered liquor baron Vijay Mallya who is fighting extradition to India on fraud and money laundering charges worth nearly Rs 9,000 crore.
The order grants permission to the UK High Court Enforcement Officer to enter the tycoon’s properties in Hertfordshire, near London.


It permits the officer and his agents entry to Ladywalk and Bramble Lodge in Tewin, Welwyn, where Mallya is currently based. However, it is not an instruction to enter, which means the banks have the option to use the order as one of the means to recover estimated funds of around 1.145 billion pounds.


“The High Court Enforcement Officer, including any enforcement agents acting under his authority, may enter Ladywalk, Queen Hoo Lane, Tewin, Welwyn… and Bramble Lodge, Queen Hoo Lane, Tewin, Welwyn, including all outbuildings of Ladywalk and Bramble Lodge to search for and take control of goods belonging to the First Defendant (Mallya),” notes the order by Justice Byran, dated June 26.


“The High Court Enforcement Officer, including any Enforcement Agent acting under his authority, may use reasonable force to enter the Property if necessary,” it states.
According to legal experts with knowledge of the case, the latest order by the High Court’s Queen’s Bench Division is the granting of permission, should it be required, while the banks consider “all the enforcement options available to them”.

 

Identified 159 properties of Mallya but could not attach them: Police to court


NEW DELHI,

THE Bangalore police on Thursday informed a Delhi court that it has identified 159 properties belonging to
liquor baron Vijay Mallya, but has not been able to attach any of them for the Enforcement Directorate’s (ED) money laundering case relating to FERA violations.


The Bangalore police, through the ED, told Chief Metropolitan Magistrate Deepak Sherawat that it was unable to attach Mallya’s properties as some of them had already been attached by the ED of Mumbai Zone and remaining assets were part of the liquidation proceedings.
Mallya has been declared a proclaimed offender by the court on January 4 for evading its summons in the case.