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More trouble for Vijay Mallya: UK's Serious Fraud Office to launch probe

Investigators probing alleged use of several firms by Mallya to launder money from India to the UK and further to Switzerland and other countries

BS Web Team  |  New Delhi 

Vijay Mallya money laundering case
Former Indian politician and billionaire businessman Vijay Mallya, centre, arrives for his extradition hearing arrives at Westminster Magistrates Court in London.

In what could lead to more trouble for fugitive businessman Vijay Mallya, whose has been seeking in default and money-laundering case, now Britain’s (SFO) has also begun a against the beleaguered liquor baron.
 
According to a Times of India reportBritish investigators are probing the alleged use of a complex web of companies by Mallya to launder money through an indirect route – from to the and further to and other countries.

 
The report also mentions that SFO is gathering considerable evidence about Mallya’s movable and immovable assets, his investment and shares in various companies in the UK, and bank account details.
 
Seeking from the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) additional details about Mallya’s abroad and alleged money laundering, the British authorities are learnt to have informed about the independent formal being conducted by them.
 
The development comes at a time when India’s case against Mallya is being heard in the UK’s The latest could further strengthen India’s position in the case if Mallya is found guilty. According to the treaty between the two countries, needs to establish a dual criminality clause to secure Mallya’s This will require that the charges are proved a crime according to the British law as well.
 
has already provided ample evidence on how Mallya used his companies/associates to invest in Britain from the money he cheated in and how Britain’s soil has been used to further launder money to other countries. Now SFO will more evidence collected by British investigators,” the Times of India quoted a senior government official as saying.
 
As part of a case management hearing (CMH) prior to extradition, Mallya’s lawyers are learnt to have submitted defence evidence before the senior district judge at and claimed they want to rely on six experts from the field of aviation, banking, politics and law, including an Indian lawyer. The Crown Prosecution Service, the main public prosecuting agency for conducting criminal prosecutions in Britain and Wales, has already submitted exhaustive evidence shared by in the court. The next hearing in the case has been listed for November 20, while the hearing is expected to take place on December 4.
 
In a filed in May, had claimed Mallya laundered around Rs 417 crore of the Rs 900-crore taken from IDBI Bank by setting up a complex web of companies and nominating his personal staff, retired company officials or third persons as directors on their boards.
 
Mallya had in March 2016 fled to Britain after being pursued for the recovery of Rs 8,191 crore owed to a consortium of 17 by his now defunct He was arrested and granted in London on April 18 by the on an warrant.

First Published: Fri, September 15 2017. 14:13 IST
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