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Vijay Mallya Won’t Appear Before Enforcement Directorate Today; Seeks Time Till May
Liquor baron Vijay Mallya on Saturday asked for more time to appear before the Enforcement Directorate in connection with a Rs 900 crore money laundering probe.

Liquor baron Vijay Mallya on Saturday asked for more time to appear before the Enforcement Directorate in connection with a Rs 900 crore money laundering probe.

He seeked for time till May as he is negotiating the settlement of loan with banks.

The agency had issued fresh summons, also the third, last week to Mallya asking him to appear before it on April 9, after he sought two extensions from the earlier dates of March 18 and April 2 citing certain official reasons.

Mallya was first summoned by the agency to “appear in person” at its office in Mumbai on March 18 but he sought more time citing his prior engagements, following which the agency asked him to depose on April 2.

Mallya, who is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks, was also directed by the Supreme Court to disclose all assets owned by him and his family in India and abroad by April 21.

The Supreme Court also sought to know when he will appear before the apex court. The directions by the apex court came after a consortium of banks led by State Bank of India “unanimously rejected” his proposal to pay Rs 4,000 crore by September towards settlement of his loans.

The bench agreed with the consortium that Mallya’s presence was necessary in the country to show his bona fides that he was serious about settling his dues. He is reported to be in the UK after he left India on March 2.

The ED has registered a money laundering case against Mallya and others based on an FIR registered last year by the CBI.

The agency is also investigating financial structure of the now defunct Kingfisher Airlines and looking into any payment of kickbacks to secure loans.

With Inputs From Agency