Vijay Mallya not to appear before ED, seeks extension till May

April 01, 2016 20:47

Business tycoon Vijay Mallya will not appear before the Enforcement Directorate in Mumbai on Saturday and has sought extension till May, sources in the agency told CNN-IBN.

Mallya had been asked to appear before the ED in connection with a money laundering probe related to alleged fraud in a loan given to Mallya by IDBI.

The case was based on a CBI FIR registered last year against Mallya, the directors of his defunct Kingfisher Airlines, its former Chief Financial Officer A Raghunathan and unknown officials of IDBI Bank.

The FIR said the loan was sanctioned in violation of norms regarding credit limits.

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