Mounting trouble for Vijaya MallyaHot Buzz

November 04, 2016 10:21
Mounting trouble for Vijaya Mallya

A Delhi court has issued a non-bailable warrant against the beleaguered Vijay Mallya for allegedly evading the summons in a case of FERA violation. The court had said that "he has scant regard for the law of the land and has no intention to return to India."

"Mallya's claim that he wants to return to India but his passport has been revoked was malafide and abuse of process," the court said.

"We are prima facie of the view that the report has not made a proper disclosure in respect of our order of April 7 directing to make complete disclosure of assets and in particular, the receipt of USD 40 million as to when it was received and how it has been dealt till date," the bench said.

Fugitive Vijaya Mallya owned Kingfisher owes over Rs 9,000 crore to 17 banks including the SBI, IDBI Bank, PNB, BoI, Bank of Baroda, United Bank of India, Central Bank, UCO Bank, Corporation Bank, Indian Overseas Bank , Federal Bank , Punjab and Sind Bank and Axis Bank. The ED has attached Mallya’s properties worth over Rs 8,000 crore under PMLA after the agency had expanded its probe into the case. On August 23, the ED has registered a fresh case against Mallya and Kingfisher for a loan default of Rs 6,027 cr.

By Premji

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