Vijay Mallya: Even if loan amount recovered, he will need to come to India,says ED

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New Delhi, May 13: The Enforcement Directorate (ED) says even if they manage to recover Rs 9,000 crore from Vijay Mallya by attaching his assets, he would still be required in India for questioning.

The case does not close with the money being recovered and there are charges of money laundering too that is being probed.

Mallya needs to come to India: ED

The ED official tells OneIndia that the process of attaching his properties has begun. Right from his expensive cars to other immovable assets are under the process of being identified and once this process is completed the same will be attached.

The ED will also attach his shares and hopes that it will be able to recover the Rs 9,000 crore which he owes the banks.

Mallya will still have to be brought to India:

The ED says that attaching the properties and recovering the money is just one part of the process. The allegation is that he had raised loans and some part of it had been moved to off shores accounts and were used to purchase property. This falls under a case of money laundering.

He will need to be present in India for questioning and hence the process of extradition has also begun the official adds. Moreover this probe does not restrict to Mallya alone.

Read More: ED seeks Interpol arrest warrant against Vijay Mallya

There are bank officials too who are alleged to be part of this and we are in the process of questioning them as well, the officer added.

The ED proposes to also take the bank officials along with them while attaching the properties. The primary concern is to recover the money for both the ED and the banks.

Further the progress update in this case will also be informed to the Supreme Court which is hearing a petition relating to Mallya.

The ED say that the aim would be to try and recover the money by attaching his assets in India. However if the need be permission would be sought to attach his assets abroad as well.

The Supreme Court had permitted the banks to see his list of assets as submitted by him on the last date of hearing.

OneIndia News

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