Mallya fails to appear before ED again

He was first summoned by the ED to "appear in person" at its office in Mumbai on March 18 but he sought more time citing his prior engagements

Liquor baron Vijay Mallya failed to appear before the Enforcement Directorate (ED) for the third time on Saturday, as he sought time till May to depose before it in connection with a money laundering probe in the over Rs 900-crore IDBI loan fraud case.

The beleaguered businessman informed the investigating officer (IO) of the case in Mumbai that he would be unable to depose personally on Saturday, citing the ongoing legal proceedings going in the Supreme Court over settlement of loans, officials said.

However, it is understood that he has suggested his legal team can help ED in taking the probe forward.

Sources did not immediately comment as to what next step the agency would take now as he has sought time till May, a request he made to the IO last week, too, and which was turned down. “The next action will be decided in due course,” they said. The agency had issued fresh summons last week to Mallya asking him to appear on April 9 (Saturday), after he sought two extensions from the earlier dates of March 18 and April 2 citing official reasons.

Officials had, however, earlier said the agency had by and large two options in case an accused skips appearance on summons thrice, the maximum time allowed under the Prevention of Money Laundering Act (PMLA).

The options include revoking his or her passport and/or getting issued a non-bailable warrant. ED officials had earlier hinted the Saturday summons could possibly be the last to Mallya. The IO of the case had allowed his plea to postpone his appearance till now, they said, both on technical and legal grounds.

It is understood that Mallya, while seeking extensions, had informed the IO that cases related to bank loans were currently sub-judice in the SC and he was trying to settle these loans with the help of his legal and corporate team and, hence, would require some more time.

Mallya was first summoned by the agency to “appear in person” at its office in Mumbai on March 18 but he sought more time citing his prior engagements, following which the agency asked him to depose on April 2.

Mallya, who is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks, was also directed by the SC to disclose all assets owned by him and his family in India and abroad by April 21.

NOT OUT OF THE WOODS

• Vijay Mallya said the case is currently sub-judice in the Supreme Court and he was trying to settle these loans with the help of his legal and corporate team
  

 

However, Mallya is said to have suggested that his legal team can help the Enforcement Directorate (ED) in taking the probe forward
 

ED officials had earlier hinted the Saturday summons could possibly be the last to Mallya
 

Mallya has sought three extensions so far including the latest one