The Enforcement Directorate asked the government earlier this week to organize the deportation of Vijay Mallya from Britain. (File Photo)
Highlights
- Yesterday, Enforcement Directorate wrote to govt seeking his deportation
- Mallya wanted in a laundering case related to a 900 crores loan from IDBI
- He flew to London in March when banks boosted efforts to recollect money
The government will ensure that Vijay Mallya is brought home "to face justice" the government said today about the businessman who left the country while owing nearly a billion dollars to banks.
Mr Mallya's diplomatic passport has been suspended by the government. Separately, a court in Mumbai has issued an arrest warrant for the 60-year-old after he failed to appear before investigators looking into the finances of his Kingfisher Airlines, which ceased operating in 2012.
The Enforcement Directorate asked the government earlier this week to organize the deportation of Mr Mallya from Britain; he flew to London early last month as banks stepped up collective efforts to recover their money.
The agency's investigation relates to 900 crores loaned by the state-run IDBI bank in 2009 to Kingfisher Airlines, despite allegedly knowing it was suffering financial troubles -- leading the bank to sustain huge losses. The Enforcement Directorate has accused him of siphoning off money from Kingfisher to buy property abroad -- a claim he has denied.
Mr Mallya inherited United Breweries Group (UBG) from his father at the age of 28 and turned it into one of the world's largest spirit makers, hosting extravagant yacht parties with Bollywood stars and politicians along the way.
His profile rose further when he acquired a stake in the Force India F1 team and ownership of the Royal Challengers Bangalore cricket team.
Earlier this month, banks rejected his offer to repay $600 million and told the Supreme Court they want him to return to India so they can negotiate with him personally over the total owed.