Vijay Mallya wards off money laundering allegations

Mallya said that all the charges of money laundering against him by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) are false and untenable.

Vijay Mallya wards off money laundering allegations
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On Tuesday, a London court granted Vijay Mallya bail, in an extradition case filed by Indian banks on charges of fraud and money laundering of around ₹9,000 crore. The next hearing for the extradition case has been scheduled on September 12. After Mallya was granted bail, the liquor baron said that he hasn’t applied for clemency and will be ready to pay off his dues. 

Mallya also stated that his assets cannot be attached for the complaints by the banks and said that full sum of the money is yet to be decided. He left it to the judiciary to decide what’s right after receiving bail from by London's Westminster Magistrates Court in the extradition case.

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The court has also asked the Indian authorities to submit a video of the cell at Arthur Road Jail within three weeks where India plans to keep Mallya post-extradition. In the separate extradition proceedings, if the Indian government gets the ruling in their favour, then the UK home secretary would have two months to sign Mallya’s Extradition order.

Today is the date the judge has set for the closing arguments. I have made a comprehensive settlement with the Karnataka court. There are over ₹14,000 crore assets placed before the court. I have requested the court to sell these assets under judicial supervision. Pay all the banks, creditors so that everyone is happy. Questions about stealing money or money laundering are all completely false," he told the media waiting outside the court.

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The extradition trial, which opened at the London court on December 4 last year, is aimed at laying out a prima facie case of fraud against Mallya, who has been based in the UK since he left India in March 2016. Earlier, Mallya had also written a letter to the Prime Minister explaining his plight.

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Alongside, he had also lost his appeal against UK’s Court of Appeal against an order by a High Court of who ruled the decision in favour of 13 Indian banks to recover funds amounting to nearly 1.145 billion pounds which had led to an enforcement order which brought Mallya’s London properties under the scanner and the court granted permission to Enforcement Officer to seize them if necessary.

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