MUMBAI — Putting further pressure on absconding liquor baron Vijay Mallya, the Enforcement Directorate May 18 took possession of his Rs. 100 crore seafront farmhouse in the Raigad district of Maharashtra's Konkan region, an official said in Mumbai.
The 17-acre beachfront farmhouse is located in the picturesque Kolegaon village of Mandwa, near tourist-hotspot Alibaug.
The ED said the property belongs to Mandwa Farms Pvt. Ltd., controlled by the now-defunct Kingfisher Airlines founder Mallya, who is currently in the United Kingdom and declared "absconder" by a Mumbai court.
On April 25, the ED served an eviction order, asking the company to vacate the property, which has a registry value of Rs. 25 crore, and is provisionally attached to the premises.
The provisional attachment order was later confirmed by the Adjudicating Authority of the Prevention of Money Laundering Act.
The MFPL challenged the move before a tribunal and sought a stay, which was rejected May 16.
This paved the way for the ED to take over the property, the official said.
The latest move comes after a luxurious beachfront bungalow, the Kingfisher Villa in Goa, which also belonged to Mallya, was sold for Rs. 73 crore in a bank auction to Mumbai-based Bollywood and south Indian film actor Sachiin Joshi April 8 to recover part of the money Mallya owes to a consortium of banks led by the State Bank of India.
In the wake of a massive operation to recover Rs. 8,191 crore he owes to Indian banks, Mallya fled to Britain in March 2016. He was arrested in London April 18 and bailed out by court within hours.