Free Press Journal

ED to appeal against PMLA tribunal order in Mallya case


New Delhi : The Enforcement Directorate (ED) on Sunday said it will appeal against a recent order of a PMLA tribunal, asking the agency to release a “miniscule” amount of assets it had attached in connection with a multi-crore-rupee bank loan fraud probe related to the Kingfisher Airlines and its promoter Vijay Mallya.

The appellate tribunal to hear cases filed under the Prevention of Money Laundering Act set aside the ED orders to attach two flats in Kingfisher Towers in Bengaluru, reportedly stating that they were “not linked” to the alleged money laundering and banking fraud. The agency said the assets were attached by it after conducting a “proper verification” and that they were registered in the name of United Breweries Holdings (UBHL).