ProMASS News Bureau: Mar 18, 2016:
Liquor baron Vijay Mallya has sought time from the Enforcement Directorate (ED) till next month for making personal appearance before it in connection with a money laundering case.
ED had issued summons to Mallya for his personal appearance today under the provisions of the Prevention of Money Laundering Act.
Official sources said in Mumbai that Mallya has informed ED that he will not be able to keep today’s date. They said, the agency is studying the reply and reasons cited by Mallya in his communication and will take a decision on it soon.
ED had recently registered a money laundering case against Mallya and others based on an FIR registered by CBI last year. CBI had booked Mallya, the Chairman of Kingfisher Airlines, its Directors, former Chief Financial Officer of the airlines A Raghunathan and unknown officials of IDBI Bank alleging that the loan was sanctioned in violation of norms regarding credit limits. ED is looking into the proceeds of crime that would have been generated using the slush funds of the alleged loan fraud.
