ED's siphoning charges against Mallya incorrect: Kingfisher Airlines

| Monday, April 18, 2016 - 17:21
First Published |
Vijay Mallya

Mumbai: Mumbai Court is expected to announce its order in regard to enforcement directorate’s (ED) plea which is seeking a non-bailable warrant against Vijay Mallya. 
The ED has accused Mallya of diverting Rs 430 crores for purchasing property overseas out of the Rs 950 crores IDBI loan that he had taken for his Kingfisher Airlines. 
(Also Read: Court to pronounce its order on ED’s plea for NBW against Mallya)
Kingfisher Airlines has filed an application terming that ED has factually incorrect records.  
ED lawyer will be hearing Kingfisher Airlines’ application; however, the KFA has been maintaining that what the ED actions are based on false documents.
In the past few weeks, officials of KFA, UB group as well as IDBI have been questioned and based on that the ED has come up with its water tank case against Vijay Mallya. 

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