A special court here on Wednesday ordered the arrest of fugitive liquor baron Vijay Mallya for his alleged involvement in a case of money laundering and cheating a consortium of banks of over Rs 60 billion.
Special Judge M S Azmi of anti-money laundering court issued a non-bailable warrant for Mallya's arrest, taking cognisance of a fresh chargesheet filed against him and others by the Enforcement Directorate (ED).
The agency has filed the chargesheet, also known as prosecution complaint, under the Prevention of Money Laundering Act, naming Mallya, his firms KFA and UBHL besides others.
The ED had last year filed its first charge sheet against Mallya, now in London, in the alleged Rs 9 billion IDBI Bank-Kingfisher Airlines loan fraud case.
The fresh chargesheet revolves around the complaint received from State Bank of India (SBI) on behalf of the consortium of banks for causing loss of Rs 60.27 billion to them by not keeping repayment commitments of the loans taken during 2005-10.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Thu, June 21 2018. 02:14 IST