Paris, December 4: The Enforcement Directorate (ED) on Friday seized assets of fugitive billionaire Vijay Mallya’s assets worth 1.6 million euros in France. French authorities took action against Vijay Mallya on the request of the ED. Mallya’s property located at 32 Avenue FOCH in France was seized. Vijay Mallya Extradition: Supreme Court Seeks Status Report From Centre Within 6 Weeks.

The ED in a statement said, “On the request of Directorate of Enforcement (ED), a property of Vijay Mallya located at 32 Avenue FOCH, France has been seized by the French Authority. The value of the seized asset in France is 1.6 million euros (Rs 14 crore).” Vijay Mallya's Extradition to be Delayed? British High Commission Says 'Confidential' Legal Issue Pending.

The ED further added that investigations revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines Ltd. The seizure of the fugitive billionaire’s assets took place at a time when India is fighting a legal battle in a United Kingdom’s court for his extradition. The probe was conducted under Prevention of Money Laundering Act, 2002 (PMLA) Vijay Mallya’s Extradition to India Order Hasn’t Come Into Effect: MEA Tells Supreme Court.

Last month,  the UK said Vijay Mallya could not be extradited to India till the resolution of a confidential legal matter and that it is trying to resolve the issue as quickly as possible. In May, the fugitive businessman lost his appeals in the British Supreme Court against his extradition to India to face money laundering and fraud charges.

The 63-year old businessman had fled from India in March 2016 and has been living in the United Kingdom since then. The Indian government has made several efforts since then for the extradition of Mallya, who is wanted for loan frauds, money laundering and economic offences.

(The above story first appeared on LatestLY on Dec 04, 2020 07:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).