Vijay Mallya Faces Charge-sheet in money laundering case


The Enforcement Directorate filed a charge-sheet against liquor and airline tycoon Vijay Mallya on charges of money laundering.  Mallya was found to have willfully defaulted on debt taken by his airline Kingfisher.

Vijay Mallya is facing a trial in the UK court; if extradited, the 62 year old would have to come back to India to face the charges against him, which involve financial crimes involving thousands of crores of rupees.

In April 2017, Mallya was arrested on an extradition warrant by Scotland Yard but was eventually released on a bail of £650,000.

In May 2017, Mallya lost a lawsuit filed by a consortium of Indian banks seeking to collect the sum of Rs. 10,000 crore in the midst of allegations of massive fraud.

You might also like