Free Press Journal

ED blocked my efforts to settle loans with banks, says Vijay Mallya


ED, Enforcement Directorate, Fugitive Economic Offenders Act, Vijay Mallya, PSB, Public Sector Banks, loans, Mumbai

Mumbai: Vijay Mallya, in his reply to the Enforcement Directorate’s (ED) plea to declare him fugitive under the new Fugitive Economic Offenders Act, claimed that the ED had blocked his efforts to settle loans with public sector banks (PSBs). In his 156-point reply to the ED’s plea, Mallya has claimed he is cooperating with the authorities in the UK, has submitted himself to the jurisdiction and process of the UK courts, so it is false for the ED to contend that he “refuses to return India”.

Mallya has also mentioned how he has been a Non-Resident Indian (NRI) for exchange control and income tax purposes since 1988 and has also expressed shock and surprise over the Passport Authority of India revoking his passport in April 2016 and the ED moving the court and issuing a non-bailable warrant against him.

He further mentioned he had written to the chairperson of the State Bank of India (SBI) in May 2016, referring to the first settlement offer and the second settlement offer, stating he “would like to continue settlement discussions with the consortium” and despite this, the SBI filed a criminal conspiracy against him. After Mallya’s counsel Amit Desai submitted the reply to the special Prevention of Money Laundering Act (PMLA) court, eight parties moved intervention, due to which special PMLA court Judge Salman Azmi delayed the argument and directed the ED to file a reply on the intervention. The ED will file a reply to it on Sept 28.

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