Thursday, April 28th, 2016

India asks UK to deport Vijay Mallya

Narada Desk | April 28, 2016 6:01 pm Print
Vijay Mallya: Facing the heat

Vijay Mallya: Facing the heat

India formally asked British government to deport Vijay Mallya. The request comes the ministry revoked the diplomatic passport of Mallya after he failed to turn up for a probe into Rs 9,000 crore default of loans from Indian banks
Last week the Rajya Sabha ethics committee has decided to revoke Vijay Mallya’s membership in the upper house.
Last day Supreme Court rejected Mallya’s petition against disclosing his assets in overseas to banks. Mallya owns abroad including pentahouses in the Trump Plaza in New York.

The banks have earlier rejected his various proposals for repaying their loans

The Enforcement Directorate is looking at whether Mr Mallya used part of a loan to purchase properties abroad, an allegation he has denied. A Mumbai court has issued an arrest warrant for him linked to this charge.

Separately, the CBI is determining why and how banks, many of them state-run, supplied large loans with virtually no cover to Mr Mallya’s airline even after its financial crisis was in plain sigh