ED's allegation: Mallya gave 1.29 crore to the British firm
- A Delhi court issued summons against Mallya. If he was not present, the court had declared him guilty.
- According to the case filed by the ED, Mallya had given a British firm Rs 1 crore 29 lakhs during Formula One racing in London, 1996, 1997 and 1998. Mallya had given the money to show the Kingfisher logo in many countries of Europe in Formula One racing.
ED has alleged that Mallya had violated the Foreign Exchange Regulatory Authority (FERA) without getting permission from the RBI.
Extradition case in the UK
- In the case related to the Prevention of Money Laundering Act (PMLA), the Special Court of Mumbai has declared Mallya a fugitive after returning the loans to Indians.
- In February 2017, India sent a request for the return of Mallya from the UK government. In March, British Prime Minister Theresa met with Arun Jaitley breaking a protocol in London. In this meeting, discussions were handed over to Mallya to India.
- The UK Government sent the case to the District Judge for further action. Following this, Mallya was arrested on Extraordinary Warrants on Wednesday. After the warrant was issued, Vijay Mallya himself reached the Central London Police Station.
Hearing can be completed till June
- Mallya is currently on the Bell, hearing of extradition case against him is going on. There may be a decision on Vijay Mallya at the end of June. The CBI, which maintains India's stand in Vijay Mallya case, hopes that Vijay Mallya will be extradited to India.
How much debt on Mallya?
- As on January 31, 2014, 17 banks had 6,963 crores arrears on Kingfisher Airlines. After interest on this loan, Mallya's total liability has been Rs 9,432 crore.
- In the charge sheet of more than 1000 pages, the CBI said that Kingfisher Airlines has made personal use of Rs 254 crore out of the loan amount of Rs 900 crore received by IDBI.
- Kingfisher Airlines was closed in October 2012. In December 2014, its flying permit was canceled.
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