Vijay Mallya has asked for time till May to appear before the Enforcement Directorate (ED) in connection with the existing money laundering case on his name.
Mallya has been charged under the Prevention of Money Laundering Act (PMLA), and was asked to appear before it on April 2nd.
“We have the option of either issuing a third summon or moving the court for issuance of a non-bailable warrant (NBW) against him. The decision on the same will be taken on Saturday,” a senior official said. “Issuing another summons would be a better legal recourse available at this point in time,” the official added. It is unlikely that he would be getting a further extension.
Earlier, Mallya has been told to appear before the agency on April 2 and March 18 and he had come up with the best of the excuses to not appear both times and asked for extensions. Multiple investigation agencies like the CBI, SFIO and ED are probing his role and the various sources of money launder. The company owes over Rs 9,000 crore to 17 banks in the country.
The Directorate has already questioned Ravi Nedungadi, former president and CFO at UB Group and A Raghunathan, former CFO of Kingfisher relating to the money launder case. According to sources, the agency is also taking an account of Mallya’s foreign assets which includes an offshore trust set up by Mallya’s father late Vittal Mallya.