Rajya Sabha accepts Vijay Mallya's resignation

The parliament term of Mallya, who is believed to have taken refuge in UK, will end later this month

The Rajya Sabha on Wednesday accepted the resignation of the beleaguered liquor baron Vijay Mallya, who is accused of defaulting on a Rs.9,000-crore loan he had taken from Indian banks.

Deputy Chairman P.J. Kurien said Hamid Ansari, who chairs the house, accepted the resignation Mallya had sent on Tuesday.

"Rajya Sabha accepts resignation of Vijay Mallya with effect from May 4," Kurien announced.

The parliament term of Mallya, who is believed to have taken refuge in the United Kingdom, will end later this month.