Vijay Mallya Detained in London in money laundering case
The Central Bureau of Investigation and the Enforcement Directorate, in their yet-to-befiled chargesheet, said the funds were allegedly laundered to shell companies in half a dozen countries.
UPDATE:- The fugitive businessman has been arrested in a second money laundering case filed by the Enforcement Directorate (ED), the UK's Crown Prosecution Service (CPS) said. However, he was granted bail shortly after being produced before the Westminster Magistrates' Court for a hearing.
The facts are awaited, but according to Times Now, the arrest could be procedural, and a bail order might be in place.
Mallya was rejecting allegations by investigation agencies that he diverted all the Rs 6,000 crore borrowed by a State Bank of India-led consortium of creditors as fabricated and baseless. This is the second arrest this season. He had been arrested in April and had been granted bail.
The Central Bureau of Investigation and the Enforcement Directorate, within their yet-to-be-filed charge sheet, stated the funds were allegedly laundered to shell firms at half a dozen countries.
Mallya, who fled to the UK from India in March 2016, stated in January that the allegations of fund diversion were a 'joke' and that he had been becoming used to "witch hunts arriving from all directions with no legal basis whatsoever."
With the new allegations, Mallya can find the going hard when his extradition case comes up for hearing in December.
Investigative agencies including the CBI and the ED recently finished the entry of probe proof to the British Crown Prosecution Service.
Officials in the investigative agencies stated they are filing a new prosecution complaint and have issued letters rogatory to seven countries to set the alleged diversion of funds to shell firms.
The agencies expect responses from the United Kingdom, the US, France, and Ireland.