India to get details of Mallya's Swiss bank accounts soon

Wednesday 06th February 2019 01:35 EST

The Government of India is all set to get details of money which embattled businessman Vijay Mallya kept in multiple Swiss bank accounts. After Switzerland's apex court approved India's requests, officials in both countries have initiated the process. It is to be noted, Mallya brought the topic of corruption charges shadowing CBI to make his case, however, the Swiss court rejected his appeals. The CBI sought details of his bank accounts and the Public Prosecutor of the Canton of Geneva agreed to the federal agency's request. Along with bank accounts of Mallya, the court also approved sharing details of five companies linked to him to provide wider legal assistance to India.

Mallya challenged the decision in the SC. The Federal Supreme Court in Lausanne gave three judgment on November 26 and November 29, upholding the lower court's order. He had told the top court that Rakesh Asthana, who was Special Director of CBI at the time and was investigating his case, was himself embroiled in corruption charges. He argued there were serious flaws in the “proceedings in India”. Mallya also invoked Article 6 of the European Convention on Human Rights (ECHR) which protects the rights of a free trial.

The judges, however, noted the plea of violation of ECHR protection wasn't applicable in this case. The court noted Mallya's extradition case was pending and added state of residence has to consider the regularity of criminal proceedings. The court said, “Switzerland is bound by respect for the ECHR and the UN Covenant II and liable to engage its own responsibility, there is no reason to doubt that this question will, if necessary, be examined in accordance with the requirements of treaty law.” The businessman reportedly has four bank accounts in Swiss banks. He has one in Edmond de Rothschild (Switzerland) SA and three accounts in Compagnie Bancaire Helvétique (CBH). In CBH, the accounts are in names of Drayton Resources, Black Forest Holdings, and Harrison Finance.

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