Mallya laundered over Rs 1,300 crore through 13 shell cos: ED

Mallya laundered over Rs 1,300 crore through 13 shell cos: ED

The agency said that the sole purpose of these companies was to obtain loans or laundering money. The agency also said that Mallya has a huge property in the United States on behalf of her daughters – Leana and Tanya.

Mallya bleached Rs 1300 crore through the shell 13 cos: ED
The Directorate of Enforcement (ED), said the liquor baron Vijay Mallya Rs 1,300 million rupees shutout through 13 fictitious companies in the United States, Ireland, Mauritius and France.

The agency made the accusation against Mallya in his registration filed on June 14 for the case of money laundering on a loan of about Rs 900 million rupees from IDBI bank-KFA. The statement of objections also charged eight others for their alleged involvement in the case.

The statement of objections also charged eight others for their alleged involvement in the case.

The 57-page complaint or complaint for criminal lawsuit was filed in various sections of the Law on Prevention of Money Laundering (MPLA) before a special court against money laundering.

The ED also said that these Shell companies had no real activity and were completely controlled by Mallya, former employees of the UB group being directors.

The agency said that the sole purpose of these companies was to obtain loans or laundering money. The agency also said that Mallya has a huge property in the United States on behalf of her daughters – Leana and Tanya.

Erectile dysfunction has registered a criminal case under this agreement last year under the MPLA and has added assets valued at more than 9600 CRS at the time.

The total of loans disbursed and sanctioned by IDBI bank KFA was 860.92 cros.

The ED stated that “analysis of the trajectory of money found that of the total loan of Rs 860.92 crore, IDBI sanctioned and disbursed Rs 423 crore was returned to India.

The expected payments were made for rental and maintenance, maintenance and spare parts for aircraft.

The agency will soon submit an additional statement of objections in the case.

Mallya has been in the United Kingdom since March 2016 and was arrested by Scotland Yard on an extradition order on 18 April this year.

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