The Central Bureau of Investigation (CBI) has received information from the Financial Intelligence Unit (FIU) on Vijay Mallya investments abroad and now plans to send letters rogatory (a judicial request) to four countries including France, US, Switzerland and the UK to probe former Kingfisher Airlines fund trail. The central agency is probing allegations that Mallya diverted funds taken as loan from government banks to the now defunct Kingfisher Airlines.
ET has first reported that CBI will send LRs to different countries on March 11. The Letters Rogatory (LR) is required to gather information which will be admissible as evidence in court. Mallya reportedly has several properties in US, UK, France and Hong Kong. He is reportedly living in London.
A non-bailable warrant (NBW) may be issued against Mallya as he has failed to appear before the Enforcement Directorate in connection with the loan default case. The former liquor baron owes nearly Rs 7,000 crore to a group of 17 banks.
The ED may either move a competent court in Mumbai to get a NBW issued against him or approach Ministry of External Affairs to revoke his passport. Mallya, on March 30, had submitted to the Supreme Court a repayment plan of Rs 4,000 crore by September this year. But the consortium led by the State Bank of India has rejected his proposal. Jonathan Lucroy Womens JerseyShare This