Kingfisher Airlines on Monday moved an application in the special PMLA court here terming as "false and incorrect" Enforcement Directorate's charges against its owner Vijay Mallya that he had siphoned off Rs 430 crore of the IDBI loan and used this money to acquire property abroad.
The Prevention of Money Laundering Act (PMLA) court in Mumbai will pronounce its order on Enforcement Directorate's (ED) plea for the non-bailable warrant (NBW) against liquor baron Vijay Mallya in a money laundering case.
Rejecting the charge that Vijay Mallya siphoned off nearly Rs 430 crore from the loan extended to Kingfisher Airlines by IDBI bank for acquiring property abroad., the UB Group said it would provide full details of foreign exchange remittances in the next few days.
Beleaguered businessman Vijay Mallya's troubles with lenders do not seem to be limited to India, with the global banking major RBS planning to terminate next month a credit line and all other banking services provided to his European beer venture.
Drug maker Alkem Laboratories on Saturday said it will submit 'suitable clarifications' to the European Medicines Agency (EMA) over a decision by the drug regulator to review two drugs for which clinical trial studies were conducted by the Mumbai-based firm