To take your ideas to Policymakers, Join the Campaign of #PolicyPulse Write to feedback@policypulse.com

Mallya seeks time to appear before ED

Businessman Vijay Mallya has requested for time till April to appear before ED in money laundering case

Policy Pulse
Publish Date: Mar 17 2016 5:09PM | Updated Date: Mar 17 2016 5:09PM

Mallya seeks time to appear before ED

Businessman Vijay Mallya has requested for time till April to appear before ED in money laundering case. 

 
Agency had earlier summoned Mallya for appearance at its Mumbai office on March 18.
 
ED wants to question liquor baron on his exit from USL and its investigation which has found that foreign remittances allegedly flew out of Kingfisher Airlines and other firms headed by Mallya to various countries including the UK.
 
It has already written to 17 banks who lent money to the grounded Kingfisher Airlines and later went to the Debt Recovery Tribunal.
 
ED will move government to revoke the passport of liquor baron Vijay Mallya if he does not respond to its summons.
 
In the meantime,  nobody wanted to bid for loans defaulter Vijay Mallya's Kingfisher House, on the first day of e-auction on hursday, by a 17-bank consortium that he owes Rs 6,963 crores to.