New Delhi: The UK’s serious fraud Office (SFO) started conducting investigations against controversial businessman Vijay Mallya, for money laundering in the UK.
The top sources said that the British investigators are investigating the alleged use of many companies for the validity of funds from India to the UK through a nervous route and a complex web of companies, and further for Switzerland and other countries.
In fact, sources said that SFO has already collected enough information about Mallya’s movable and immovable property, details of their investments and shares and bank account details in various companies in the UK. The Financial Investigation Agency decided to launch an independent investigation to investigate Mallya whether the British companies allegedly involved in money laundering or not, UK officials have informed the CBI and ED about the alleged money laundering and property details abroad and informed about their independent ‘formal’ investigation against Mallya.
The Government sources say that the implementation of SFO should strengthen India’s extradition case against Mallya, which is currently being heard in Westminster Court. To enable the extradition of Vijay Mallya from London, according to the extradition treaty between the two countries, a ‘double criminal’ section of their illegal activities should be constituted. The section demands the fraud of public banks in India by Mallya, and later, money laundering will have to prove ‘crime’ in the eyes of British law.
A senior government official said, “India has already made substantial evidence about its companies / colleagues for investing in UK with the money of fraud in India, and the use of Britain’s land in other countries to appreciate wealth Now, SFO investigations will provide more evidence collected by British investigators “, CBI and ED have claimed that Vijay Mallya has lured and cheated billions of foreign debt for many countries, including UK, US, Switzerland and others after taking loans from several public sector banks.
In the charge sheet filed in May, the ED claimed that the absconding businessman laundered Rs 417 crores from IDBI Bank’s debt of Rs 900 crores and nominated the companies into the directors of those companies, either their personal staff, retired Company officer or third party It has been said that Mallya is holding direct or indirect and immovable property in the form of shares of public or public companies.
The Growth occurs until the lawyers of Mallya’s should be presented before the Senior District Judge in Westminster Court, as part of the Case Hearing (CMH) before evacuation evidence, and claims that those areas Crown Prosecution Service of Air Lines, Banking, Politics and Law, including Indian lawyers, wants to rely on six experts in the UK The court has presented the complete evidence shared by India. The next hearing in this case has been recorded on 20th November, while the extradition hearing is expected to begin on 4th December.
