The ED is also investigating whether Mallya used a part of the loan to purchase properties abroad, an allegation he has denied. A Mumbai court has also issued an arrest warrant for him linked to this charge.
India has issued a red corner notice (RCN) which acts like an international warrant against liquor baron Vijay Mallya who is reportedly in the United Kingdom (UK). This move came after the British authorities refused to deport Mallya to India.
"A RCN was sent to the Interpol for publication following a request made by the Enforcement Directorate (ED)," officials from the Central Bureau of Investigation (CBI) were quoted as saying. On May 5, in response to a letter sent by the Ministry of External Affairs, the British government stated that under the 1971 Immigration Act, the UK does not require an individual to hold a valid passport in order to remain in that country if they have extant leave to remain as long as their passport was valid when leave to remain or enter the UK was conferred.
"At the same time the UK acknowledges the seriousness of the allegations and is keen to assist the Government of India. They have asked GoI to consider requesting mutual legal assistance or extradition," the British authorities conveyed to the Indian government.
Mallya's whose passport was canceled by the Indian authorities last month owes a consortium of banks led by the State bank of India (SBI) almost Rs 9,000 crores. After a protracted legal battle, on November 23, 2015, the SBI tagged Mallya and two of his companies as wilful defaulters after they failed to clear loans given to the long-grounded Kingfisher Airlines. Despite a lookout notice circulated by the CBI, to all the airports, Mallya evaded authorities and left the country for the UK on March 2, 2016.
Having ignored a series of summons ordering his return to India, Mallya's troubles increased as the ED recently appealed to a Delhi Court recalling its order granting exemption from appearance in a case alleged violation of foreign exchange rules. In it's plea, the ED has also requested the magistrate to issue a non-bailable warrant against Mallya.
The ED is also investigating whether Mallya used a part of the loan to purchase properties abroad, an allegation he has denied. A Mumbai court has also issued an arrest warrant for him linked to this charge.
Last week, in an effort to pre-empt his expulsion from the Rajya Sabha,m Mallya resigned in a letter he sent from London. In the letter to the Vice-President, Mallya claimed that he did not want his name "further dragged in the mud."
In a bid to recover the money, almost all of Mallya's assets have been up for sale by the Indian banks.
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