It Appears That The Flying Days Of Vijay Mallya Will Be Over Really Soon
           

It Appears That The Flying Days Of Vijay Mallya Will Be Over Really Soon

Flying days of Vijay Mallya may be soon over. Vijay Mallya left the country for UK on March 2 using a diplomatic passport issued to him by virtue of him being a sitting Rajya Sabha Member of Parliament. Mallya, is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks & non payment salary to his employees.

But his “un-cooperative” attitude with the investigators probing a criminal case under the Prevention of Money Laundering Act (PMLA) at Enforecement Directorate (ED) has cost him high.

1. ED seeks revocation of Vijay Mallya’s passport in connection with its money laundering probe in the IDBI loan fraud case.

2. CBI to send Letters Rogatory to France, UK, Hong Kong, US and Switzerland in connection with Kingfisher Airlines IDBI loan default case.

3. Consortium of banks led by SBI seeks presence of Mallya in the country to show his bonafide that he is serious in settling his dues. They rejected Mallya’s proposal in the current form to pay Rs 4,000 crore out of the loan.

4. SC directs Vijay Mallya and Kingfisher to disclose their total assets. Asks Mallya to file his reply by Apr 21 indicating how much amount he can deposit in SC to prove his bonafide. Next hearing on Apr 26.

Will this finally force him to come back? This only time will tell. But what about his Rajya Sabha membership ?  

mallya rajya sabha

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