Vijay Mallya is facing court cases for loan defaults to the tune of Rs 9,000 crore
Controversial business tycoon Vijay Mallya, in a series of tweets on Friday, tried to clarify that he had not fled from the country. He said that he fully respects and will comply with the law of the land.
“I am an international businessman. I travel to and from India frequently. I did not flee from India and neither am I an absconder” he tweeted.
The former chairman of United Spirits (USL), who left the country on March 2 the day when State Bank of India and other banks filed a case in debt recovery tribunal (DRT) in Bengaluru, said he is an Indian MP (Member of Parliament) and fully respects the law of the land. “Our judicial system is sound and respected. But no trial by media,” he said.
Mallya is currently facing several court cases against him for loan defaults to the tune of R9,000 crore. The DRT in Bengaluru has ordered for attachment of his $75 million (R515 crore) exit package from Diageo for stepping down as chairman of USL.
The Enforcement Directorate is probing charges of money laundering against him. In connection with this, the ED on Friday questioned former chief financial officer of Kingfisher Airlines A Raghunathan in connection with its probe in the alleged default of over R900 crore loan from IDBI Bank.
The Directorate also issued summons to Mallya to appear before it on March 18 for an interrogation.
The summons have been issued to Mallya under provisions of the Prevention of Money Laundering Act in connection with the IDBI case. He has also been asked to furnish documents related to his personal finances.
He also questioned news reports that he must declare his assets. “Does that mean that Banks did not know my assets or look at my Parliamentary disclosures?,” he questioned.