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  Business   Companies  14 Jun 2017  ED files chargesheet against Mallya under PMLA

ED files chargesheet against Mallya under PMLA

Published : Jun 14, 2017, 4:25 pm IST
Updated : Jun 14, 2017, 4:25 pm IST

57-page chargehsheet reveals 'dubious' Rs 900 cr loan was approved and disbursed by IDBI Bank.

Vijay Mallya.
 Vijay Mallya.

Mumbai: India's only anti-money laundering agency Enforcement Directorate has filed a chargesheet against liquor baron Vijay Mallya in a Rs 900 loans default case concerning IDBI Bank.

News channel Times Now reported that ED has filed a lengthy 57 page fresh chargesheet against Mallya in which it has been revealed that the "dubious" loan amount was approved and disbursed by the IDBI Bank.

Mallya has been living in a self-imposed exile in the UK since March 2 last year when he left India with a diplomatic passport on him after India's law enforcement agencies started to tighten the noose around him.

The TV report also claimed that the Kingfisher Airlines maintained multiple accounts with Axis Bank. Mallya had violated RBI guidelines by diverting funds outside India and he had indulged in money laundering.

The report also claim that Mallya'a acts attract a trial and punishment under section 4 of the Prevention of Money Laundering Act. The chargesheet incorporates in it the above three important aspects of the case.

Tags: vijay mallya, pmla, ed, money laundering, idbi bank, loans default
Location: India, Maharashtra, Mumbai (Bombay)