Vijay Mallya dodges Enforcement Directorate for third time, seeks time till May
The former liquor baron suggested his legal team help in the investigation into an IDBI loan fraud case.
Former United Spirits head Vijay Mallya has refused to present himself to the Enforcement Directorate for a third time, and on Saturday sought time till May to be questioned. The ED is investigating money laundering worth Rs 900 crore in an IDBI loan fraud case, reported PTI. Mallya reportedly cited ongoing legal proceedings in the Supreme Court over his pending loans as the reason, but the report added that he suggested his legal team assist the ED’s investigation.
The agency had issued a summons to him last week. He had sought two earlier extensions from the ED, on March 18 and April 2. A witness called in an investigation by the agency can skip summons a maximum of thrice. The former liquor baron is embroiled in legal proceedings for defaulting loans worth Rs 9,000 crore to 17 banks in India. Mallya left the country for the United Kingdom in early March, soon after stepping down as head of United Spirits. He claimed he did not flee the loans he had defaulted but that he travelled extensively for work.
The Supreme Court last week rejected Mallya’s offer to pay off part of the loans by September this year, and asked him to deposit a "substantial amount" to prove his bona fides. He was also named in the recent Panama Papers data leak.