Official sources said the agency recently filed charges under the Prevention of Money Laundering Act (PMLA) based on an FIR registered last year by CBI in the same case.
    
They said while the ED's zonal office here has registered the case, sleuths are also looking at the overall financial structure of the now defunct Kingfisher airlines and a separate probe under foreign exchange violation charges could also be initiated.
    
"Mallya and others will soon be questioned. The agency has collected relevant documents from concerned authorities and the bank in question," they said.
    
The ED has pressed charges under various sections of the PMLA against Mallya and others named in the CBI complaint. The CBI had booked Mallya, director of Kingfisher Airlines, the company, A Raghunathan, Chief Financial Officer of the airlines, and unknown officials of IDBI Bank in its FIR
alleging that the loan was sanctioned in violation of norms regarding credit limits.

Also read: Disinformation campaign played to make me poster boy of bad loans: Vijay Mallya
    
The CBI action came as part of its wide probe into criminal aspects of loans declared to be non-performing assets by public sector banks. The ED is looking into the 'proceeds of crime' that would have been generated using the slush funds of the alleged loan fraud, they said.

 

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