Thursday, Apr 25, 2024 | Last Update : 02:27 PM IST
Actor grilled in loan default case
ED sought details, source of funds that were used to buy Kingfisher Villa in Goa in April ’17.
Mumbai: The Enforcement Directo-rate (ED) on Friday night questioned Sachiin Joshi, actor-businessman and owner of Kings Beer, in connection with the multi-crore loan default case against liquor baron Vijay Mallya. The focus on questioning pertained to the possibility of any business relations between Mr Joshi and the fugitive accused. Mr Joshi had purchased Mallya’s prime property in Goa, the Kingfisher Villa in April 2017. It was one of the properties that was auctioned with a reserve price of Rs 73 crore.
The officials questioned Mr Joshi for over two hours and sought clarity on the ownership of the property and the beer company that he had purchased. The investigators want to ascertain if Mallya, who is already into the beer business, made the investments.
The ED sought for the details and source of funds that went in to buying the business and the property, which was later, renamed King’s Mansion. “He was questioned on the lines of the ongoing case,” said an ED officer said.
Sources stated that Joshi has been asked to appear again with set of documents pertaining to the mansion and the Goa-based beer manufacturing company that he acquired. ED meanwhile is tightening its noose against Mallya, whose extradition case hearing is in its last leg.
The agency is likely to start process of confiscating the properties of Mallya that they attached during the course of investigation. This could be the first confiscation initiated under the new Fugitive Economic Offender’s Ordinance.
The ED had filed a chargesheet in the Rs 900 crore IDBI loan default case in 2017 in a bid to strengthen its stand on the ongoing extradition case. The process to put up the chargesheet before the UK authorities was later completed by the agency.
The chargesheet was filed in the money laundering case related to a default of loan taken from the IDBI bank under the pretext of utilising the funds towards his ailing Kingfisher airlines.
A detailed dossier on Mallya was also submitted to the Crown Prosecution Service (CPS) by the ED containing details of the web of shell companies that Mallya used to remit over Rs 3,500 crore outside India. The funds were sent out under the pretext of payments of lease rentals, repairs and maintenance on which no proper lease agreements were provided.
