• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Mallya gets a step closer to being declared fugitive economic offender

|

A special court in Mumbai has ordered the arrest of fugitive liquor baron Vijay Mallya for his alleged involvement in a case of money laundering and cheating a consortium of banks of over Rs 6,000 crore.

File photo of Vijay Mallya

Special Judge M S Azmi of anti-money laundering court issued a non-bailable warrant for Mallya's arrest, taking cognisance of a fresh chargesheet filed against him and others by the Enforcement Directorate (ED).

The court also issued summons to Mallya's firms, Kingfisher Airlines (KFA) and United Breweries Holdings Limited (UBHL), before adjourning the hearing in the case to July 30.

The agency has filed the chargesheet, also known as prosecution complaint, under the Prevention of Money Laundering Act, naming Mallya, his firms KFA and UBHL besides others.

The ED had in 2017 filed its first chargesheet against Mallya, now in London, in the alleged Rs 900-crore IDBI Bank-Kingfisher Airlines loan fraud case.

The fresh chargesheet revolves around the complaint received from State Bank of India (SBI) on behalf of the consortium of banks for causing loss of Rs 6,027 crore to them by not keeping repayment commitments of the loans taken during 2005-10.

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more