An eccentric Indian politician and businessman who once owned a Perthshire castle has had a 1.6 million Euro property seized by French finance authorities.
Indian economic intelligence agency the Directorate of Enforcement (ED) asked officials in France to take over the property belonging to fugitive businessman Vijay Mallya earlier this month.
International press have reported that ED launched an investigation into potential money laundering following a report from the Indian Central Bureau of Investigation (CBI) against Kingfisher Airlines Limited, Mallya and others in 2016.
Mallya is an accused of failing to repay sizeable bank loans involving his now dissolved low cost airline.
The businessman is believed to owe Indian banks sums worth hundreds of millions of pounds.
When the firm formally ceased trading in 2013, Dr Mallya fled to England to hide from creditors.
The one time Indian MP reluctantly resigned in 2016 after two terms when an ethics panel came to the verdict that he should no longer be serving as a politician.
He was declared as a fugitive economic offender last January by a special court in Mumbai.
Dr Mallya, who had also been named in the Panama and Paradise Papers scandal, once owned cricket and Formula One teams in his homeland of India, along with United Spirits Ltd, which produces Kingfisher beer.
His drinks conglomerate was taken over by Scottish-headquartered firm Diageo in 2014.
The businessman, dubbed the “King of Good Times” has had properties around the world, and once owned Keillour Castle in Perthshire.
Located near Fowlis Wester, the 13th century listed building, which was rebuilt in 1,877 was purchased by flamboyant mogul.
However, the Courier understands that the site of outstanding artistic and horticultural interest is now no longer in Dr Mallya’s portfolio.
The Indian government are currently attempting to extradite booze baron Dr Mallya, who once owned whisky giants Whyte and Mackay, and the nation’s foreign secretary Harsh Vardhan Shringla met with Priti Patel last month to discuss the matter.
Dr Mallya lost his final appeal earlier this summer, however in October, the Indian government was told that Mallya couldn’t be extradited until an undisclosed confidential legal matter had been resolved. As such, he is currently on bail.
