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More trouble for Mallya
In more trouble for beleaguered businessman Vijay Mallya, a special Prevention of Money Laundering Act (PMLA) court on Monday issued a non-bailable warrant (NBW) against him in connection with a money laundering probe in the over Rs 900 crore IDBI loan fraud case.
New Delhi: In more trouble for beleaguered businessman Vijay Mallya, a special Prevention of Money Laundering Act (PMLA) court on Monday issued a non-bailable warrant (NBW) against him in connection with a money laundering probe in the over Rs 900 crore IDBI loan fraud case.
- NBW issued against liquor baron
- Court rejects KFA plea against ED
The special court also rejected Kingfisher's plea challenging ED's claim that Rs 430 crore was siphoned off and used to acquire properties abroad.
The special court had on Saturday reserved its order till Monday on the Enforcement Directorate's (ED) plea for a Non Bailable Warrant (NBW) in the money laundering case involving Mallya's alleged defrauding of the IDBI.
The ED has alleged that Mallya diverted Rs 430 crore for purchase of a property abroad from the Rs 950 crore of IDBI loan he took for his Kingfisher Airlines.
The government had also suspended the passport of Mallya last week, whose Kingfisher Airlines has defaulted on loans of over Rs 9,400 crore and who has been defying Enforcement Directorate summons, and even threatened to revoke it.
The 60-year-old industrialist, who has been in Britain for over a month, had skipped three summonses issued by the agency. He had also sought time till May to depose before the officials.
