Vijay Mallya Case: ED asks banks for details
Vijay Mallya Case: ED asks banks for details
Share:

Both the public as well as private sector banks have been asked by the Enforcement directorate to submit the details of all Indian and foreign transactions lead by the king of good times and the top staff of Kingfisher Airlines. According to a source, Information relating to where the funds come came from and where they went have been provided to the ED.

The former liquor barron was reported to have acquired 9000 crores from a consortium of 17 banks led by SBI. To check whether there existed money laundering, ED was focusing on the investigation relating to the whole issue paying attention to IDBI bank's involvement which is said to have granted Mallya around 900 crore.

Asking around half a dozen more banks for financial details is going to reveal lot more of details relating the Vijay Mallya case. Recently, Vijay Mallya's Goa Villa was siezed by SBI after recieving an order from North Goa Collector. Relating the whole issue, a non baillable warrant was issued against Mallya by Prevention of Money Laundering Act Court and his passport was revoked by Ministry of External Affairs.

Securities and exchange board of India suspected various lapses in the financial exchanges by various comapnies under the parent brand UB group headed by Mallya. It also took up the issue to various agencies like the Corporate Affairs Ministry, Serious Fraud Investigation Office and other government agencies to look into the matter as a white-collar crime and investigate on the issue. Sebi is also looking into the matter as following of unfair trade practices and violation of interest of a few stakeholders. It also asked for strict disclosure of private dealings with different parties.

Disclaimer : The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of NTIPL, english.newstracklive.com or any employee thereof. NTIPL makes no representations as to accuracy, completeness, correctness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.
NTIPL reserves the right to delete, edit, or alter in any manner it sees fit comments that it, in its sole discretion, deems to be obscene, offensive, defamatory, threatening, in violation of trademark, copyright or other laws, or is otherwise unacceptable.
Join NewsTrack Whatsapp group
Related News