The Enforcement Directorate is all set to send letters rogatory to the US, the UK, and Europe, requesting competent foreign authorities to assist it in attachment of over 10 foreign assets belonging to Vijay Mallya in connection with a money laundering case. The move came after a special court in Mumbai that declared Mallya a proclaimed offender on November 10, refused to pass orders for attachment of Mallya's foreign assets citing jurisdictional issues.
A source familiar with the development said, "The agency has identified over ten foreign properties of Mallya and will use the LR route to attach these properties. The agency has already prepared the LRs." A letter rogatory is a formal request to a foreign court seeking judicial assistance in probing an entity in another country. Mallya, who currently lives in the UK, owns properties in London, New York, California, Johannesburg, Mediterranean islands off the French Riviera among others. For now, the agency has attached assets of both, Mallya and Kingfisher in India worth £966.10 million under the Prevention of Money Laundering Act after the agency expanded its probe into the case.
The agency registered a fresh case against Mallya and Kingfisher for a loan default of £602.7 million on August 23. The new case is based on a complaint filed by a SBI-led consortium with the CBI. In June, it had sought the proclamation notice to be issued against Mallya as it said he had "multiple" arrest warrants pending against him, including a non-bailable warrant under the PMLA, and that the agency wants him to join the probe "in person". Finance Minister Arun Jaitley recently said in Rajya Sabha that a write-off of loan does not mean the bank is not going to pursue the bad debt. "Bad loans write-off doesn't mean we won't pursue it. NDA government has inherited a legacy of bad loans," he said.
CBI moves extradition request
Two weeks after Indian government discussed with UK Prime Minister Theresa May extradition of Mallya, the Central Bureau of Investigation on Monday moved a court with an extradition request for the former liquor baron, who fled to London on March 2 this year.
The agency has secured non-bailable warrant against Mallya, following it with an extradition request from the special court in Mumbai. The extradition request will be sent to ministry of home affairs and ministry of external affairs and then to competent authorities in the United Kingdom, said sources.
