ED launches fresh probe against Mallya
The Enforcement Directorate on Tuesday initiated another investigation into money laundering against Vijay Mallya, Kingfisher Airlines, its holding company, United Breweries Holding Ltd., and others on the basis of a fresh case registered by the Central Bureau of Investigation.
The fresh case has been registered on a complaint by the State Bank of India as a representative of the consortium of banks that alleged that the company failed to repay its debts from 2009 to 2011.
The complaint said the loans were declared non-performing assets. The banks then recalled the credit facilities and invoked the corporate guarantee given by the holding company and personal guarantee by Mallya. However, they did not clear the outstanding.
An FIR has been filed against liquor baron Vijay Mallya and his cash-strapped Kingfisher Airlines on a criminal complaint by Read more
NEW DELHI: CBI is likely to register more FIRs into alleged loan defaults of Kingfisher even as it plans to Read more
After a protracted legal battle, State Bank of India (SBI) has declared industrialist Vijay Mallya a 'wilful defaulter' for defaults Read more
After rising over 70 points in opening trade on Wednesday, the benchmark BSE Sensex turned flat. At 10.27 am, Sensex Read more
