Kingfisher Airlines promoter Vijay Mallya failed to present himself before investigators of the Enforcement Directorate on Saturday, missing their summons for the third time in the money laundering case against him.
Instead, Mr. Mallya sought time till May, even as ED is expected to finalise its next steps against the businessman next week.
Mr. Mallya is being summoned in connection with the money laundering probe in the Rs. 900-crore IDBI loan fraud case.
ED sources said Mr. Mallya informed the Mumbai-based Investigating Officer (IO) that he was unable to depose personally. His lawyers also cited the ongoing legal proceedings in the Supreme Court over settlement of loans.
The team is believed to have offered all assistance in the case, even in Mr. Mallya’s absence.
PTI adds:
The agency had issued fresh summons last week to Mr. Mallya asking him to appear on April 9 after he >sought two extensions from the earlier dates of March 18 and April 2 citing official reasons.
Officials had, however, earlier said that the agency has by and large two options in case an accused skips appearance on summons thrice, the maximum time allowed under PMLA.
The options include revoking his or her passport and/or getting issued a non-bailable warrant. ED officials had earlier hinted that the April 9 summons could possibly be the last to Mr. Mallya.
The IO of the case had allowed his plea to postpone his appearance till now, they said, both on technical and legal grounds.
It is understood that Mr. Mallya, while seeking extensions, had informed the IO that cases related to bank loans were currently sub-judice in the Supreme Court and he was trying to settle these loans with the help of his legal and corporate team and, hence, would require some more time.
Mallya was first summoned by the agency to “appear in person” at its office in Mumbai on March 18 but he sought more time citing his prior engagements, following which the agency asked him to depose on April 2.
Mr. Mallya, who is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks, was also directed by the Supreme Court >to disclose all assets owned by him and his family in India and abroad by April 21.
The Supreme Court also sought to know when he will appear before the apex court.
The directions by the apex court came after a consortium of banks led by State Bank of India “unanimously rejected” his proposal to pay Rs 4,000 crore by September towards settlement of his loans.
The bench agreed with the consortium that Mr. Mallya’s presence was necessary in the country to show his bona fides that he was serious about settling his dues.
He is reported to be in the UK after he left India on March 2.
The ED has registered a money laundering case against Mr. Mallya and others based on an FIR registered last year by the CBI. The agency is also investigating financial structure of the now defunct Kingfisher Airlines and looking into any payment of kickbacks to secure loans.
