The Enforcement Directorate (ED) has slapped a money-laundering case on liquor king Vijay Mallya, in its bid to stop him from fleeing to friendly countries evading Rs 7000 crore loan, public money, owed to a consortium of 17 banks.
Mallya was planning to get away from a debt of Rs 7000 crore taken from banks. He already has accepted Rs 515 Cr deal with a London-based company to part away with UB. While he was just about to leave to England, the ED has slapped the case on him to ensure he does not escape to friendly countries like Lalit Modi, the former Indian Premier League (IPL) commissioner did.
The ED sleuths are now in the process of short-listing Mallya’s properties in India and abroad and they will shortly question him. Apart from the ED, the Debt Recovery Tribunal (DRT) is also expected to give a jolt to Mallya.
The State Bank of India (SBI) had filed three applications seeking Mallya’s arrest, impounding of his passport and scrutiny of his Rs 515 Cr deal. The SBI leads a consortium of 17 banks that lent money to the Mallya’s Kingfisher airlines.