What is Vijay Mallya money laundering case?

Vijay Mallya money laundering case: Liquor baron Vijay Mallya was today arrested and granted bail in London in a money laundering case filed by the Enforcement Directorate of India.

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United Breweries Group Chairman Vijay Mallya (AP file)

Vijay Mallya money laundering case:  Liquor baron Vijay Mallya was today arrested and granted bail in London in a money laundering case filed by the Enforcement Directorate of India. Mallya, is already out on bail on an extradition warrant executed by the Metropolitan Police of London earlier this year. Mallya appeared before Westminster Magistrates Court in London on Tuesday afternoon, where he also got a bail. “Vijay Mallya has been arrested on money laundering charges and will be appearing in court today,” UK’s Crown Prosecution Service (CPS) was quoted as saying by PTI. The CPS argued the case against Mallya on behalf of the Government of India.

So, what is the money laundering case against Mallya? The ED is probing the money laundering case against the liquor baron and it has already filed a charge sheet against him and others in a Mumbai court.

In April 2016, the ED had requested a special court in Mumbai to issue a non-bailable arrest warrant against Mallya. The ED had sought the warrant against the liquor baron for crimes under Prevention of Money Laundering Act, 2002. The court granted warrant to ED. Reports claim that Mallya had siphoned off around $590 million (around Rs 4000 crore) out from India. In the same month, India revoked Mallya’s diplomatic passport and his international travel was also banned, according to The Indian Express.

The liquor baron owes over Rs 9,000 crore to various Indian banks. He has been living in a self-imposed exile in Britain since March 2016, after secretly escaping from India.

In April this year, Mallya was arrested by the Scotland Yard on allegations of fraud, which triggered an official extradition process in the British courts. Mallya had then attended a central London police station for his arrest and was released on conditional bail a few hours later on a bail bond worth 650,000 pounds. He had then assured the court of abiding by all conditions associated with extradition proceedings, including the surrender of his passport and a ban on him possessing any travel documents.

The trial in the extradition case against Mallya is scheduled to begin for two weeks from December 4. It remains to be seen if both cases will be clubbed together. This may, however, lead to a delay in the trial date.

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