Zee Media Bureau


COMMERCIAL BREAK
SCROLL TO CONTINUE READING

New Delhi: The Enforcement Directorate has initiated steps to extradite Vijay Mallya from the United Kingdom. As per reports, the investigating agency has written to the Ministry of External Affairs for the same and has sought clearance from the Prevention of Money Laundering Court.


Sources say that the entire process and completion of formalities will take around a month. 


The United Kingdom had refused India's plea to extradite Mallya earlier on the ground that UK does not deport a person who has valid documents, the Finance Minister said earlier on Monday.


"There are two separate procedures one is deportation, another is extradition. The United Kingdom has conventionally never been helpful. They always take a plea that once somebody has entered with legitimate travel documents they don't then deport the person," Jaitley said. 

"The United Kingdom expects you to go through the extradition process which is as per their law where the requirement is that once you file the chargesheet in the court you start the extradition proceedings with the due process of law. I think the agencies will make every endeavour under the options available today," Jaitely added. 

Finance Minister added that the government was looking into all options to bring Vijay Mallya back.


Last week, the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI)requested Interpol to issue red corner notice against Vijay Mallya, and the PMLA (Prevention of Money Laundering Act) Court has already issued a non-bailable warrant against the liquor baron.


The ED is investigating whether there was any money laundering involved in the Rs 900-crore loan that IDBI Bank gave to Kingfisher Airlines.


Expanding its money laundering probe, the Enforcement Directorate has also asked around half a dozen lenders of Kingfisher Airlines to furnish details of the financial transactions conducted by the long-grounded air carrier and its top executives.


Besides, markets regulator Sebi has also expanded its probe into possible siphoning off funds by the promoters on suspicion of lapses in financial dealings of various listed companies of Mallya-led UB Group.


Vijay Mallya had left India on March 2 using his diplomatic passport to escape imprisonment and bide his time to resolve the loan default matter.