The Enforcement Directorate attached properties worth Rs6,630 crore in connection with a money laundering probe tied to the business tycoon. Bengaluru: Former billionaire Vijay Mallya, who has been at the centre of a money laundering probe, will continue as chairman of United Breweries Ltd, the company’s management said after UBL’s annual general meeting on Wednesday. Also Read: ED attaches Vijay Mallya’s assets worth Rs6,630 croreThe attachment was on the basis of the case filed against Mallya and his defunct Kingfisher Airlines Ltd. Some analysts had speculated that Mallya might have to step down as chairman because of the development. Also Read: Non-bailable warrant issued against Vijay Mallya in service tax evasion caseED had not attached any properties or shares of UBL and Mallya was not disqualified to be its chairman, the PTI report said, citing Pal.

Source: Mint September 07, 2016 16:30 UTC