Foreign Ministry suspends Vijay Mallya’s passport
FollowThe Ministry of External Affairs has suspended Vijay Mallya's passport on the recommendation of the Enforcement Directorate (ED).
The move comes after Mallya's repeated failure to appear before the directorate in series of summons.
The flamboyant businessman is being investigated on charges of misappropriating more than Rs 9000 crore as loans from PSU banks for the now-defunct Kingfisher Airlines as well as facing charges of conspiring with banks officials to flout norms to get loans sanctioned.
The CBI is also pursuing the money diversion case and will send judicial requests or Letters Rogatory (LR) to five countries, including the US and UK, to seek details on the money trail connected to the alleged diversion of a Rs 900 crore loan taken by Kingfisher Airlines (KA) from IDBI bank.
A former member of the Rajya Sabha, Vijay Mallya fled the country last month amid mounting pressure to repay the defaulted loans.
