IDBI loan fraud case: ED wants Vijay Mallya’s passport revoked

Vijay Mallya and his firm have come under the scanner of multiple investigating agencies in the country such as the CBI, SFIO and the service tax department for alleged violations of norms.

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The agency had issued fresh summons to Mallya after he sought two extensions from the earlier dates of March 18 and April 2 citing official reasons.

The Enforcement Directorate (ED) on Wednesday asked the passport office in Delhi to revoke the passport of Vijay Mallya, chairman of the now-defunct Kingfisher Airlines in connection with a money laundering probe in the over Rs 900 crore IDBI loan fraud case, according to official sources.

This after Mallya failed to appear before the probe agency on April 9 , despite being summoned three times by the ED.

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The agency had issued fresh summons to Mallya after he sought two extensions from the earlier dates of March 18 and April 2 citing official reasons.

Watch: RBI Governor Raghuram Rajan on bad loans

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Kingfisher Airlines has defaulted on bank loans of over Rs 7000 crore. Kingfisher owes over Rs 9000 crore to 17 banks in the country.

Mallya and his firm have come under the scanner of multiple investigating agencies in the country such as the CBI, SFIO and the service tax department for alleged violations of norms.

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