ED registers money laundering case against Vijay Mallya
The case has been filed by the ED on the basis of a CBI probe into the alleged default of Rs.900 crore loan in conspiracy with IDBI Bank officials.
Meanwhile, he has also been barred from accessing Rs 515 crore severance pay by Debt Recovery Tribunal.
On charges of defaulting on loan, the Karnataka High Court had recently issued notice to the liquor baron on a petition filed by State Bank of India (SBI) and 12 other banks seeking his arrest.
Mallya on Sunday said in a statement available to the media: "Kingfisher was launched on the basis of a viable business plan vetted by SBI Capital Markets and renowned International aviation consultants, but despite every effort, it was an unfortunate commercial failure caused by macro economic factors and then Government policies."
"Legal proceedings apart, I have been making efforts to reach a one-time settlement with the Banks, and to that end I have had three meetings and follow up calls in the recent past and my efforts will continue – this settlement would be based on additional payments to the Banks," he said.
"Personally I am not a borrower or a judgement defaulter," he said.
Image: Wikimedia Commons
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