Mallya PMLA case: probe expanded

Mallya PMLA case: probe expanded

Mallya PMLA case: probe expanded

The Enforcement Directorate (ED) has expanded the ambit of its money laundering probe against businessman Vijay Mallya and will now investigate the default of loans to the tune of Rs 6,027 crore availed from a consortium of nationalised banks.

Officials said the agency has already obtained details of the case from the CBI and charges of cheating of the 17 banks are expected to be incorporated in the case registered under the Prevention of Money Laundering Act (PMLA) against the liquor baron.

The agency is already working on attaching some fresh assets of Mallya and his associates, besides invoking the India-UK Mutual Legal Assistance Treaty (MLAT) to make the businessman join the investigation here and getting issued an Interpol arrest warrant against him.ED sleuths, they said, will have an active cooperation with the CBI to take the criminal probe under various sections of the IPC, Prevention of Corruption Act and PMLA forward.

The CBI had last week filed a fresh case under IPC sections related to criminal conspiracy and cheating against Mallya on the basis of a complaint received from the State Bank of India on behalf of the consortium of lenders for causing a loss of Rs 6,027 crore to them by not keeping repayment commitments of loan taken during 2005-10.

Besides Mallya, his companies Kingfisher Airlines (KFA) and United Breweries Holdings Limited have also been named as accused in the CBI FIR. The ED is also preparing to initiate the second round of attachments under the provisions of the PMLA after the embattled businessman early this month skipped appearance before a special PMLA court in Mumbai.

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