ED to appeal against PMLA tribunal order to defreeze Mallya's select assets

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 (PMLA) recently 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, which is in charge of the enforcement of the stringent PMLA in the country, said the assets were attached by it after conducting a "proper verification" and that they were registered in the name of United Breweries Holdings Limited (UBHL). "During the investigation before attachment, UBHL had stated that with respect to the flats in Kingfisher Towers in Bengaluru, no sale deed was executed nor registered with the registrar of properties. "Thus, all the properties vest with UBHL and accordingly, the same was attached provisionally and the Adjudicating Authority (of PMLA), after going through the evidence, has confirmed the provisional attachments," the ED said in a statement.