- Tag results for Vijay Mallya
Indian authorities will be empowered to seize properties of super-rich fugitives whose economic offences or crimes involve sums over 1 billion rupees ($15 million), according to a government document.
Narendra Modi and British counterpart Theresa May's talks on economic offenders, the case of absconding liquor baron Vijay Mallya was also discussed, according to sources.
There are two genres of bank scams: one, those that involve rogue operators in high places; and, second, those that have continued for months and years because of poor regulation.
As per the case registered by the ED, Mallya had allegedly paid USD 200,000 to a British firm and some European countries for displaying Kingfisher logo in Formula One World Championships in London.
.During a teleconference with his party leaders and MPs on Sunday, Naidu sought to know what is the difference between Vijay Mallya and Vijaya Sai.
The Finance Ministry is considering amendment of laws to manage seized assets of economic offenders.
Mallya is facing a trail in a UK Court, to rule if he can be extradited to India to face charges for financial irregularities.
Indian banks broke rules to give loans to Kingfisher Airlines, says UK judge in Vijay Mallya hearing
The British judge hearing the extradition case of liquor baron Vijay Mallya today said that it was 'blindingly obvious' that rules were being broken by Indian banks in giving loans.
Liquor tycoon Vijay Mallya's extradition trial is set for one of its final hearings at Westminster Magistrates' Court here today.
Several big defaulters like Nirav Modi, Mehul Choksi, Vijay Mallya and Jatin Mehta have fled the country putting the recovery mechanism in quandary.
The 95-meter Indian Empress of Mallya was boarded by the port officials and was blocked from leaving the port as part of the legal action against him, reported the Guardian.
Passport details will help banks to take timely action and inform the relevant authorities to prevent fraudsters from fleeing the country, sources said.
The CBI has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of Rs 389.85 crore towards the Oriental Bank of Commerce.
Scamsters like Vijay Mallya, Lalit Modi and Nirav Modi magically disappeared from India and reappeared in foreign lands out of the reach of Indian law, he said.
The Congress President said the government ''actively" participated in corruption by allowing bank-loan defaulters Vijay Mallya and Nirav Modi to escape the country.