A special Court in Mumbai will give its order today on Enforcement Directorate’s plea for Non Bailable Warrant against businessman Vijay Mallya in a money laundering case.
The special court on Saturday had reserved its order till today on the agency’s plea. The order was reserved by special Judge P R Bhavake who hears cases filed under the Prevention of Money Laundering Act. The ED has alleged that Mallya diverted Rs 430 crore for purchase of a property abroad from the 950 crore rupees IDBI loan for his Kingfisher Airlines.
The ED Counsel told the court that they have stumbled upon the money trail and found that of the money he borrowed, a portion had been used to buy a property outside India. The Counsel said, Mallya wants to avoid probe and therefore Non Bailable Warrant may be issued to compel his presence by bringing him from UK. He said, three summons had been issued by the PMLA court against Mallya this year on March 10, March 18 and April 2 asking him to appear in the case.
However, Mallya replied in e-mails to ED that he cannot appear because of his commitments in Europe and also because he was busy trying to arrange money to pay off his debts by a one-time arrangement.
The ED counsel said, in all these e-mails, Mallya sought time to appear and he was delaying the progress of investigations by not coming before ED. He argued that even in FERA cases, the Supreme Court had observed that Mallya was using evasive tactics by not appearing before the investigating agency.
The Union Government on Friday suspended Mallya’s diplomatic passport and even threatened to revoke it if he does not come to India and cooperate with the investigations.