Vijay Mallya arrested for 2nd time related to money laundering case in UK, enjoys bail yet again!
Source : NewsBharatiDate : 04-Oct-2017
London, October 4: Liquor baron Vijay Mallya who currently resides in UK avoiding Indian police was arrested for the second time by the British police yesterday but soon got bailed out. This time he was arrested in a case of alleged money laundering brought by the Enforcement Directorate. The charges are part of an investigation into defaults of loans worth around Rs9,000 crore by Mallya’s defunct Kingfisher Airlines Ltd.
The flamboyant millionaire was presented before the Westminster Court and later released on bail until 4 December. He was arrested earlier on 18 April based on a chargesheet filed by the Central Bureau of Investigation (CBI) and later released on bail. The CBI also filed an extradition plea in London, where Mallya is currently residing.
The 61-year-old former liquor baron, who appeared in court, said “No” to the chief magistrate’s query on whether he agreed to be extradited to India. The next hearing is scheduled for 20 November. The Crown Prosecution Service, which acts on behalf of the Indian government, said in a statement: “The existing timetable was adopted and Dr Mallya was bailed to 4 December when his extradition hearing is listed to begin at Westminster Magistrates’ Court.”
At the end of the extradition trial, the journalists outside the court asked him about his views, he said, “I deny all allegations that have been made and I will continue to deny them. I have not eluded any court. If it is my lawful duty to be here, I’m happy to be here. I’ve given enough evidence to prove my case.”
Background: In June, ED filed a chargesheet under the Prevention of Money Laundering Act (PMLA) in a PMLA court in Mumbai, stating that Rs413 crore of a Rs900 crore loan given to Kingfisher Airlines by IDBI Bank Ltd was diverted through 13 shell companies. On 25 September, ED stated that it was preparing to file a second chargesheet against him in the same court.
Mallya diverted most of the Rs6,000 crore he borrowed from a State Bank of India-led consortium of lenders to shell companies in half-a-dozen countries, ED officials said then. Mallya flew out of India in March 2016, six days before a group of creditor-banks led by SBI moved the Supreme Court to restrain him from leaving India. They also sought an arrest warrant against Mallya and a security deposit to ensure his presence at the debt recovery tribunal proceedings in Bengaluru.