ED’s fresh case against Vijay Mallya, Kingfisher Airlines is based on a complaint filed by a SBI-led consortium with the CBI. Photo: ReutersMumbai: The Enforcement Directorate (ED) on Tuesday registered a fresh case against Vijay Mallya and Kingfisher Airlines Ltd (KFA) to investigate whether they laundered money taken as loans, two ED officials familiar with the development said on condition of anonymity. The fresh probe is in addition to the Rs.900 crore IDBI Bank loan default case that in already under investigation. ED’s fresh case against Mallya and Kingfisher Airlines is based on a complaint filed by a State Bank of India-led (SBI-led) consortium with the Central Bureau of Investigation (CBI). SBI, and the 17-lender consortium it leads, say that Kingfisher Airlines owes them Rs.9,000 crore.

Source: Mint August 23, 2016 13:30 UTC