ED Opposes Vijay Mallya’s Plea to Close Criminal Proceedings
The agency said recovery of Rs 14,131.6 crore in assets does not end the prosecution because Mallya still has not returned to India.
- On September 8, The Enforcement Directorate filed an affidavit in the Bombay High Court opposing a 2020 petition by Vijay Mallya seeking closure of criminal money-laundering cases.
- Mallya is accused of money laundering and misappropriation of at least Rs 3,500 crore out of Rs 9,000 crore in bank loans granted to his now-defunct Kingfisher Airlines.
- While the SBI-led consortium recovered Rs 14,131.6 crore in assets including United Breweries Holdings Ltd shares, the agency maintains this recovery does not cancel the serious money laundering charges.
- Since fleeing India in March 2016, Mallya has remained elusive; a PMLA court declared him a "proclaimed offender" in December 2016 for failing to submit to legal jurisdiction.
- The agency added, "Applicant continues to evade the process of law and has not returned to India or submitted himself to the jurisdiction of the competent criminal court.
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Vijay Mallya continues to evade Indian law, ED tells HC
Mumbai: Former liquor baron Vijay Mallya continues to evade the legal process in India, and the recovery of debts by the banks does not absolve him of the money laundering charges, the Enforcement Directorate (ED) has submitted to the Bombay High Court. The central agency on September 8 filed its affidavit in response to a … Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Politics and Top Stories on WhatsApp & T…
Vijay Mallya's Debt Recovery Doesn't Absolve Him of Money Laundering Charges, ED Tells Bombay HC
The Enforcement Directorate (ED) has informed the Bombay High Court that former liquor baron Vijay Mallya continues to evade Indian law, and the recovery of debts by banks does not absolve him of money laundering charges.
Vijay Mallya continues to evade Indian law, recovery of assets doesn't absolve him: ED
Vijay Mallya continues to evade legal processes in India. The Enforcement Directorate stated debt recovery does not absolve him of charges. Properties worth over fourteen thousand crore rupees were handed to banks. Mallya left India in March 2016 and remains elusive. Money laundering charges persist despite substantial asset restoration.
Vijay Mallya continues to evade Indian law, recovery of assets doesn't absolve him: Enforcement Directorate to Bombay High Court
The Enforcement Directorate has told the Bombay High Court that recovery of bank dues from Vijay Mallya’s assets does not invalidate the money laundering prosecution against him.
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