The Enforcement Directorate on Wednesday filed its first chargesheet against former liquor baron Vijay Mallya and others in the Rs 900-crore IDBI-KFA loan default case, reported PTI. The chargesheet has been filed at a Mumbai court under the Prevention of Money Laundering Act. The loan amount was reportedly sanctioned and disbursed by IDBI Bank.
Earlier in February, the Karnataka High Court had ordered United Breweries Holding Limited, the holding company of Mallya’s United Breweries and his defunct airline Kingfisher, to shut shop. The court had said the company should be closed for failing to pay its creditors despite receiving several notices.
Several lenders, including a consortium of banks led by the State Bank of India, BNP Paribas and several foreign suppliers of aircraft parts had moved court against UBHL, saying the company owed nearly Rs 5,000 crore in loans.
The chargesheet comes a day after the Westminster Magistrates’ Court in London had extended the absconding businessman’s bail and set the management hearing in his extradition case for July 6. His extradition hearing will be held on December 4, 2017 provisionally, the court said.
Mallya has been exempted from being present at the July 6 hearing after his legal team raised the matter of mediapersons hounding the industrialist outside the court. Mallya was arrested in April on behalf of Indian authorities for his alleged involvement in fraud. However, he was granted bail by a Westminster magistrates’ court only hours later.
Mallya has been embroiled in a number of cases in India. The Ministry of External Affairs had submitted an extradition request for Mallya on February 9.