1. New setback for Vijay Mallya, ED files first chargesheet in IDBI Bank-Kingfisher Airlines money laundering case

New setback for Vijay Mallya, ED files first chargesheet in IDBI Bank-Kingfisher Airlines money laundering case

The Enforcement Directorate (ED) filed its first chargesheet against liquor baron Vijay Mallya and others on Wednesday afternoon in the IDBI Bank-Kingfisher Airlines loan money laundering case

By: | New Delhi | Published: June 14, 2017 5:17 PM
vijay mallya, mallya, vijay mallya ed charge sheet, mallya ed charge sheet, charge sheet against vijay mallya, IDBI KFA bank loan money laundering case, IDBI, KFA, bank loan money laundering case, mallya money laundering case, india news The Enforcement Directorate (ED) filed its first chargesheet against liquor baron Vijay Mallya. (Source: PTI)

The Enforcement Directorate (ED) filed its first chargesheet against liquor baron Vijay Mallya and others on Wednesday afternoon in the IDBI Bank-Kingfisher Airlines loan money laundering case, reported news agency PTI. The 57-page chargesheet stated that Mallya took Rs 900 cr loan which was later used for his F1 company, Force India. The chargesheet further added that RBI guidelines were also violated for these loans, according to Times Now. However, Mallya who is also accused of loan defaults to several banks amounting to nearly Rs 9,000-crore got major relief on Tuesday when he was granted bail till December 4 by Westminster’s Chief Magistrate Emma Louise Arbuthnot. However, he will have to re-appear in the Court on July 6.

Soon after the extradition case hearing, Mallya claimed he has enough evidence to prove his innocence, reported PTI. “I deny all allegations that have been made and I will continue to deny them,” said the 61-year-old flamboyant boss of the erstwhile Kingfisher Airlines. “I have not eluded any court…I have enough evidence to prove my case,” Mallya said after coming out of the Court. “I don’t make statements to the media because anything I say is twisted. There is enough evidence, that will speak,” he added.

Here’s the full chargesheet:

Arrested by Scotland Yard in April, Mallya is currently out on bail. “You can keep dreaming about a billion pounds; you cannot prove anything without facts,” he was quoted saying by PTI after the hearing. Meanwhile, Arbuthnot, who presided over what is referred to as a “case management hearing”, said, “Make sure you do not break any conditions of your bail.”

“There might be a few more hearings in this case in the coming months to deal with case management or any issues that arise, before the final hearing takes place, at which the full arguments from both sides, in this case, will be heard by the Judge,” explained Jasvinder Nakhwal, partner at Peters and Peters Solicitors LLP and member of the UK’s Extradition Lawyers Association.

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