Process of confiscation of properties of Mallya from today, action of ED under CRPC Section 83
New Delhi: The seizure of Vijay Mallya’s property, which is still missing from the Rs 9,000-crore debt, has been started from Tuesday. The Enforcement Directorate, of course, is implementing the action under the Criminal Procedure Code Section-83. To seize the assets of criminals under the said section Mallya had escaped from London on March 2, 2016.
Vijay Mallya was paid 1.29 crores to the British company
– A Delhi court had issued summons against Mallya. He has been declared absconding after being absent from the court.
According to a lawsuit filed by ED, Mallaya had paid 1 crore 29 lakh rupees to a British company during the Formula One racing in 1996, 1997 and 1998 in London. This money was used to show Kingfisher logo in many countries with Europe in Formula One racing.
ED alleges that Mallya had done this transaction without having permission from RBI, by doing so she violated the Foreign Exchange Regulatory Authority.