ED moves to attach Mallya's assets of Rs 1,411 crore - News Summed Up

ED moves to attach Mallya's assets of Rs 1,411 crore


He needs to pay Rs 9,400 crore to the SBI-led consortium of 17 banks. The company's director gets a few thousand rupees salary and the ED believes that Mallya controls the company. The court will pass an order on Monday.This will help the ED strengthen its case for his extradition. The ED, through the CBI, has requested Interpol to issue a red-corner notice against Mallya to bring him back from the UK. As of now, the ED is focusing on attachment of properties in connection with only the IDBI case.The ED has registered a case against Mallya under the Prevention of Money Laundering Act in the Rs 900-crore default case.


Source: Times of India June 11, 2016 19:02 UTC



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