ED may issue non-bailable warrant against Vijay Mallya


Business tycoon Vijay Mallya now may have to face a non-bailable warrant in connection with a money laundering probe in the over Rs 900 crore IDBI loan fraud case, after failing to appear before the Enforcement Directorate for three times.

The ED is may either move a competent court in Mumbai to get a non-bailable warrant issued against him or write to the passport authority under the Ministry of External Affairs to get his international travel authority document revoked.

ED’s office in Mumbai, they said, is preparing legal papers to take the next step in the wake of Mallya skipping the third summons that required him to “personally” join investigations on April 9.

Mallya had last week informed the Investigating Officer (IO) of the case in Mumbai that he will be unable to depose personally citing the ongoing legal proceedings going on in the Supreme Court over settlement of loans.

The agency had issued fresh summons last week to Mallya asking him to appear on April 9 after he sought two extensions from the earlier dates of March 18 and April 2.

Read More: ED summons to Vijay Mallya asking to appear on April 9

Mallya, who owes more than Rs 9,000 crore to a consortium of 17 banks, on March 30 had submitted to the Supreme Court a repayment plan of Rs 4,000 crore by September this year. The top court has asked the consortium led by the State Bank of India (SBI) to respond to the liquor baron’s proposal.

Mallya’s lawyer told the Supreme Court that he had two rounds of meeting through video conferencing with the banks after leaving India last month. “The media hype has vitiated the fair trail,” he told the court from London.

Wefornews Bureau

Related Posts