The Enforcement Directorate (ED) on Saturday issued fresh summons — the third such — to Kingfisher Airlines (KFA) chairman Vijay Mallya, directing him to appear before the investigating agency in Mumbai before April 9 to depose in the case of money laundering of IDBI Bank's loan of Rs 900 crores.
"We have summoned Mallya [to appear] before April 9," said a senior ED official. "Under the Prevention of Money Laundering Act (PMLA), if he does not appear by the third summons, we can move court for further action." Mallya and other officials of Kingfisher Airlines have been booked under the PMLA as the ED suspects that the money from the loan was parked in foreign shores. The agency is also investigating the overall financial structure of the now defunct airlines and will look into whether there were any kickbacks to secure loan.
03/04/16 Vinay Dalvi/Mid Day
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"We have summoned Mallya [to appear] before April 9," said a senior ED official. "Under the Prevention of Money Laundering Act (PMLA), if he does not appear by the third summons, we can move court for further action." Mallya and other officials of Kingfisher Airlines have been booked under the PMLA as the ED suspects that the money from the loan was parked in foreign shores. The agency is also investigating the overall financial structure of the now defunct airlines and will look into whether there were any kickbacks to secure loan.
03/04/16 Vinay Dalvi/Mid Day
