"With their appeal struck down, the possession of the property had to be let off and accordingly the property was taken into possession peacefully, with its present market value being over Rs 100 crore", added the ED officer.
The Enforcement Directorate has taken over possession of the Mandwa Farms worth Rs 100 crore controlled by liquor baron, Vijay Mallya.
The beach-facing farmhouse is located two minutes away from Mandwa jetty in the Kolegaon village in Alibaug and has a self-contained swimming pool inside, officials said. "This property belongs to M/s Mandwa Farms Pvt". Ltd. (MFPL), controlled by the now-defunct Kingfisher Airlines' founder Mallya, who is currently in the United Kingdom and declared "absconder" by a Mumbai court.
Mallya, accused of defrauding banks of loans worth Rs 9,000 crore, was declared a proclaimed offender by a Mumbai court previous year and is also facing a money-laundering case.
The MFPL challenged the move before a tribunal and sought a stay, which was rejected on May 16.More news: Trump denies asking Comey to drop probe, decries 'witch hunt'
More news: India, Pakistan army trade fire in Kashmir; 2 civilians dead
More news: Rouhani gets a boost from U.S. sanctions waiver ahead of election
A month earlier, the ED had seized assets worth Rs 1,620 crore owned by Mallya.
The Enforcement Directorate had served eviction orders to the occupants in April this year after the owners failed to get any relief from appellate bodies.
In the wake of a massive operation to recover Rs 8,191 crore owed by him to Indian banks, Mallya fled to Britain in March 2016.
Mr. Mallya has been booked by the ED under the Prevention of Money Laundering Act, in connection with the ₹900 crore loan that he took from the IDBI bank, and is wanted in the case. He was arrested in London on April 18 briefly and bailed out by court.