Breaking Vijay Mallya money laundering case

[Rajkumar]

Vijay Mallya arrested in London in money laundering case, gets bail


NEW DELHI: Absconding liquor baron Vijay Mallya+ , who is wanted in connection to a loan default case to the tune of Rs 9,000 crore, was arrested in London on Tuesday.

The fugitive businessman has been arrested in a second money laundering case filed by the Enforcement Directorate (ED), the UK's Crown Prosecution Service (CPS) said. However, he was granted bail shortly after being produced before the Westminster Magistrates' Court for a hearing.



Mallya owes as much as Rs 9,000 crore to Indian banks. He has been out on bail after Scotland Yard arrested him on April 18 this year, acting on India's formal extradition request for him. The 61-year-old chief of the now-defunct Kingfisher Airlines fled India last year in March and has been living in Britain since then.


The CBI and the ED had recently uncovered that 'Mallya diverted most of Rs 6,000-crore loan to shell companies'+ , taken from a consortium of 17 banks led by SBI, to several countries including US, UK, France and Ireland.

Law may b blind .... but it has VERY LONG HANDS
SatyaMeva Jayate
Finally ONE LESS REASON for CONGriwal''s to bash BJPTruth Brahmandam

Both the agencies are now planning to file chargesheets against him and present it as evidence in the Westminster Magistrates' Court, so that his extradition could be expedited.

India had given a formal extradition request for Mallya as per the Extradition Treaty between India and the UK through a note verbale on February 8 and had asserted that it has a "legitimate" case against him.

Vijay Mallya arrested in London in money laundering case, gets bail - Times of India

Vijay Mallya Arrested In UK In Money Laundering Case

 

[Sai Jai]

Like 2 minutes noodles

2 minutes arrest got bail

 

[unirockers]

King of good times :tongue:

 

[Kiran Reddy]

Jail nahi, bail Mila :'( (Got bail instead of jail)

 

[ABCDEFGH]

Law may b blind .... but it has VERY LONG HANDS
SatyaMeva Jayate
Finally ONE LESS REASON for CONGriwal''s to bash BJPTruth Brahmandam

Bhai, this is not part of the article. It is a comment posted below the article

 

[Rajkumar]

Bhai, this is not part of the article. It is a comment posted below the article

 

[Bapun]

Source

 

[Bapun]

Kingfisher Airlines (KFA) founder Vijay Mallya is a "victim of flamboyance and arrogance rather than any political conspiracy", Air Deccan chairman G R Gopinath has said.

Mallya a victim of flamboyance and arrogance: Gopinath

 

[Bapun]

The court has also ordered Vijay Mallya to pay costs towards registration of the worldwide freezing order and of the Debt Recovery Tribunal of Karnataka's judgment in Britain.

Vijay Mallya Asked To Pay 200,000 Pounds To Indian Banks By UK Court

 

[Bapun]

"I wrote letters to both the PM and the Finance Minister on 15th April 2016 and am making these letters public to put things in the right perspective. No response was received from either of them," Mallya claimed in a statement from the UK.

He further said,"I have been accused by politicians and the media alike of having stolen and run away with Rs 9,000 crores that was loaned to Kingfisher Airlines (KFA). Some of the lending Banks have also labelled me a wilful defaulter".

Vijay Mallya: 'Poster Boy' of bank default Vijay Mallya says will settle all dues - The Economic Times