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ED registers money laundering case against Mallya

In fresh trouble for liquor baron Vijay Mallya, the Enforcement Directorate has registered a money laundering case against him and others in connection with the alleged default of over Rs 900 crore loan from IDBI Bank. Official sources said the agency recently filed charges under the Prevention of Money Laundering Act (PMLA) based on an FIR registered last year by CBI in the same case.

They said while the ED’s zonal office here has registered the case, sleuths are also looking at the overall financial structure of the now defunct Kingfisher airlines and a separate probe under foreign exchange violation charges could also be initiated. “Mallya and others will soon be questioned. The agency has collected relevant documents from concerned authorities and the bank in question,” they said.

The ED has pressed charges under various sections of the PMLA against Mallya and others named in the CBI complaint. The CBI had booked Mallya, director of Kingfisher Airlines, the company, A Raghunathan, Chief Financial Officer of the airlines, and unknown officials of IDBI Bank in its FIR alleging that the loan was sanctioned in violation of norms regarding credit limits.

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