Money laundering: Enforcement Directorate files charge sheet against Vijay Mallya

Vijay Mallya
Vijay Mallya, File Photo

New Delhi, June 18: The Enforcement Directorate on Monday filed a charge sheet against Liquor baron Vijay Mallya in connection with money laundering case. 

The 62-year-old is facing a trial in the UK Court, to rule if he can be extradited to India to face charges for financial irregularities involving a total amount of Rs 9,000 crores, as well as money laundering cases.

Earlier in May, Mallya lost a lawsuit filed in London by a consortium of Indian banks seeking to collect the amount of Rs. 10,000 crore amid allegations that he committed massive fraud.

In its order, the Court had said the consortium of lenders, including IDBI Bank, can impose an Indian court’s decision against Mallya, who was found to have willfully defaulted on $1.4 billion in loan taken by his now-defunct airline Kingfisher, news agency ANI reported.

Judge Andrew Henshaw also refused to overturn a countrywide freeze placed on Mallya’s assets.

The Businessman was nabbed by Scotland Yard on an extradition warrant in April 2017. Presently he is out on bail on a bond worth 650,000 pounds.

Besides this case, the High Court of London on February 12 ordered Mallya to pay an estimated USD 90 million to a Singapore-based carrier leasing firms in claims.

The case involves a number of aircraft leased by Vijay Mallya’s now-defunct Kingfisher Airlines from BOC Aviation in 2014. However, the business denied the allegations levelled against him and claimed they are “politically motivated”.

WeForNews 

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