Wednesday, August 4, 2021
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Mallya’s woes continues

Vijay Mallya avoided arrest and now hiding in London but his properties one after the other is going out of his hand. The Endorsement Directorate (ED) is probably one of its biggest action against businessman attached his properties and shares worth Rs.6360 crore. The liquid baron was at his peak having many business connections fell aside after his pet project King Fisher crash landed and many employees were left in the lurch without even getting their monthly salary for months. ED had recently expanded the probe in this regard as it over investigation into alleged default of over Rs.6000 crores from a consortium of Nantionalised Banks led SBI, a case also taken over by CBI recently. These companies of Vijay Mallya though do not have any business activities and no independent source of income but are holding substantial movable and immovable properties. Now the axe fell on his properties and there is no escape route. But slowly and steadily he is losing all his assets in India and that itself is a big body blow for the liquor baron.

(The views expressed by the author in the article are his/her own.)

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