In fresh trouble Mr Mallya, Enforcement Directorate today seized his assets worth Rs 6000 crore.
The Enforcement Directorate today seized properties, assets and shares, belonging to business tycoon Vijay Mallya, worth Rs 6,630 crore. The action against Mr Mallya, 60, comes after the CBI lodged a fresh case of cheating against him.
A group of banks, including the State Bank of India, had complained against Mr Mallya, accusing him of cheating them out of Rs 5,000 crore in loans. The banks had extended credit facilities to Mr Mallya's Kingfisher Airlines in 2010. The banks claim that Mr Mallya and his company deliberately didn't repay the dues.
The total value of properties and assets seized by the Enforcement Directorate now stands at Rs 8,044 cores. The agency has said that the seized assets were 'proceeds generated out of criminal activity' by Mr Mallya.
"It appears that even though sufficient funds were available with the promoters of Kingfisher Airlines - Mallya and UBHL - they had no intention to make payment towards the bank loans from the consortium," the Enforcement Directorate orders said.
In its order the agency also said that Mr Mallya "deliberately and intentionally kept the huge number of shares worth Rs 3600 core pledged with financial institutions like UTI Investment Advisory Services without substantial underlying liabilities and thus kept the consortium in dark."
Mr Mallya was declared a proclaimed offender by courts in June this year, and is reported to be living in London.
Flummoxed by how to bring the liquor mogul back to India, investigators are now consulting legal experts to see if a two decade-old treaty with the UK can be invoked to have him extradited.