Vijay Mallya will not present himself before ED investigators in Mumbai even as he sought time till May to depose before the agency which is probing his role in a money laundering case in the over R900 crore IDBI loan fraud case
Vijay Mallya will not present himself before ED investigators in Mumbai even as he sought time till May to depose before the agency which is probing his role in a money laundering case in the over Rs 900 crore IDBI loan fraud case.
ADVERTISEMENT
Also read: Kingfisher, Vijay Mallya propose to repay Rs 4000 crore to banks
Vijay Mallya
The investigating officer of the case at ED’s Mumbai zonal office, officials said, has been informed by Mallya that he will not be able to keep the scheduled date of April 2 and that he should be given a fresh date, sometime in May.
It is understood that Mallya has informed the IO that cases related to bank loans are currently ongoing in the Supreme Court and he is trying to settle these loans with the help of his legal and corporate team and, hence, would require some more time.
“His personal appearance is important to unravel the alleged irregularities reported to have been done in the IDBI loan fraud case. Money laundering offences probe are serious. Also, under PMLA, the onus to prove not guilty is on the accused and not on the investigating agency,” sources said.
The agency, by and large, has two options, either to agree and issue him a third date or undertake steps to possibly take legal action for revoking his passport.
Mallya was first summoned by the central probe agency to “appear in person” at its office in Ballard Pier on March 18 but after he sought more time citing his prior engagements, the agency asked him to depose on April 2.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
