Will be available for questioning on April 2: Vijay Mallya to ED

The beleaguered owner of Kingfisher Airlines Vijay Mallya promised Enforcment Directorate that he will be present for questioning on April 2 regarding the matter of the loans that he owes to the banks.

A highly placed source of ED said we are co-ordinating with market regulator Securities Exchange Board of India (Sebi) and Bank regulator Reserve Bank of India (Rbi) to ensure United Breweries Group companies will not create any third party rights to dispose of its stakes.

With this, UB Group would not be able to do any transactions for business purposes.

The probe agency is examining the business module of the entire set-up. " We are investigating the conditions under which loan were sanctioned," said the ED source.

Besides, the ED is examining every aspect of the case. " IDBI is just the one part of the investigation, we are looking at the larger aspect," the official said.

The banks has deposited all the transaction and loan documents in connection with Rs 6,963 crore loans extended to Kingfisher Airlines.

Mallya has been asked to come up with details like his income-tax returns and the assets he owns.