New Delhi: In serve difficulty for beleaguered businessman Vijay Mallya, white collar crime examine organization SFIO has launched an review into purported account diversion and financial irregularities during long-grounded Kingfisher Airlines.
Mallya, widely famous as ‘King of Good Times’ for his flamboyance and intemperate lifestyle, is already confronting a feverishness from lenders over loan defaults, while Enforcement Directorate has purebred a income laundering box opposite him and others.
Capital markets regulator Sebi is also probing his several organization companies, while a Debt Recovery Tribunal yesterday barred him from accessing a Rs 515-crore payout from Diageo as partial of a ‘sweetheart deal’ to exit United Spirits.
Regarding a examine by a Serious Fraud Investigation Office (SFIO), Corporate Affairs Minister Arun Jaitley currently pronounced in created respond to a Rajya Sabha doubt that a review is stream “under progress”.
The organization is looking during purported “diversion of supports and financial stating frauds”.
Bogged down by outrageous debt and operational problems, Mallya’s Kingfisher Airlines was grounded in 2012.
Giving sum about several probes being conducted by SFIO, Jaitley pronounced a organization has been asked to examine 42 companies in a stream mercantile compartment Dec 31, 2015.
Besides Kingfisher, Pearl Group firms PGF and PACL, as good as Saradha Housing figure among these 42 companies.
A multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by a Corporate Affairs Ministry.
Yesterday, a Debt Recovery Tribunal in Bangalore calm Mallya from accessing USD 75 million (Rs 515 crore) exit remuneration from Diageo compartment a loan default box with SBI is settled.
Diageo and United Spirits Ltd, now owned by a UK-based wine giant, were also calm by a judiciary from temporarily disbursing a USD 75 million volume to Mallya, who had worked out a understanding underneath a separation package.
The Enforcement Directorate has purebred income laundering box opposite Mallya and others in tie with a purported default of over Rs 900 crore loan from IDBI bank formed on an FIR purebred final year by CBI in a same case.
While Kingfisher is being probed for account diversion and financial irregularities, many of a 42 companies are being investigated by SFIO for “chit account activities”.
The companies embody Ambujaatripuri Infra (India) Ltd, a 7 organization firms, Grand Vyapaar Pvt Ltd, a 5 companies, Goldmine Food Products and a 7 organization entities, as per a Ministry.
Besides, PGF Ltd and PACL Ltd are being investigated by SFIO for “illegal collection of deposits”.
SFIO probing Kingfisher Airlines