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ED files a fresh chargesheet against liquor baron Vijay Mallya

By LawStreet News Network      19 June, 2018 12:00 AM      0 Comments
ED files a fresh chargesheet against liquor baron Vijay Mallya

The Enforcement Directorate (ED) on Monday (June 18th, 2018) filed a fresh chargesheet against liquor baron Vijay Mallya, including his two companies, i.e., United Breweries Holdings Ltd (UBHL) and Kingfisher Airlines (KFA) on charges of money laundering.

The chargesheet has been filed before a special Mumbai court under the provisions of the Prevention of Money Laundering Act, 2002 for allegedly cheating a consortium of nationalized banks to the tune of over Rs. 6000 crores.

Earlier, ED filed its first charge sheet against Mallya in the alleged Rs. 900 crores IDBI Bank-Kingfisher Airlines loan fraud case and attached assets worth Rs. 9, 890 crores.

The fresh chargesheet is filed in pursuance of a complaint received from the State Bank of India (SBI) on behalf of the consortium of banks for causing loss of Rs. 6,027 crores.

Mallya is presently facing a trial in the UK Court to rule if he can be extradited to India to face charges for financial irregularities.



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