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Indian Court Orders Attachment of Fugitive Vijay Mallya's Properties in Bengaluru

A Delhi court ruled that the fugitive, liquor baron, Vijay Mallya's properties in India's southern city Bengaluru be attached, in a case pertaining to country’s Foreign Exchange Regulation Act (FERA) violations.

Chief metropolitan magistrate Deepak Sherawat issued the latest order after Bengaluru police through Enforcement Directorate’s (ED’s) special prosecutor NK Matta and advocate Samvedna Verma sought more time to execute its previous order.


The Bengaluru Police earlier had told the court that they have listed 159 properties belonging to Mallya, but have not been move forward to attach any of the properties listed.

The court declared Mallya as a proclaimed offender in January this year as he evaded the court summons in the case.

The court had earlier on May 8 asked the attachment of Mallya’s assets in the case through the Bengaluru police commissioner and asked to submit a report on the same.

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Rachel Reeves

Under the policy, property owners will face a recurring annual charge additional to existing council tax liability.

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Rachel Reeves announces annual tax on homes worth over £2 million

Highlights

  • New annual surcharge on homes worth over £2 m comes into force in April 2028, rising with inflation.
  • Tax starts at £2,500 for properties valued £2m-£2.5m, reaching £7,500 for homes worth £5m or more.
  • London and South East disproportionately affected, with 82 per cent of recent £2m-plus sales in these regions.
Britain has announced a new annual tax on homes worth more than £2 million, expected to raise £400 million by 2029-30, according to estimates from the Office for Budget Responsibility.

Chancellor Rachel Reeves pointed that the measure would address "a long-standing source of wealth inequality in our country" by targeting "less than the top 1 per cent of properties". The surcharge will come into force in April 2028.

Under the policy, property owners will face a recurring annual charge additional to existing council tax liability. The rate starts at £2,500 for homes valued between £2 m and £2.5 m, rising to £3,500 for properties worth £2.5 m to £3.5 m, £5,000 for £3.5 m to £5 m, and £7,500 for those valued at £5 m or more.

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