Mumbai: The enforcement directorate (ED) has expanded its money laundering probe into L’affaire Mallya asking around half a dozen lenders of Kingfisher Airlines to furnish details of the financial transactions conducted by the air carrier and its top executives.
According to reports, the ED had asked for financial details from both public and private sector banks and a part of these details were submitted last week.
The ED had So far focussed on Rs 900-crore loan that IDBI Bank had given to KFA to investigate whether there was any money laundering involved. The move to seek details from more banks indicates widening of the probe into the Mallya saga.
A news agency quoting a source said,“The banks have been asked to furnish details of all domestic and foreign inward and outward remittances of KFA (Kingfisher Airlines). Information such as from which accounts the money came in and to which accounts they were transferred, have been given to the ED.”
Earlier in April, a Prevention of Money Laundering Act (PMLA) court had issued a non-bailable warrant against the fugitive baron Vijay Mallya in the IDBI case. Besides, markets regulator Sebi has also expanded its probe into possible siphoning off funds by the promoters on suspicion of lapses in financial dealings of various listed companies of Mallya-led UB group.
The market watchdog has also flagged the matter to other agencies and government departments, including the corporate affairs ministry and its probe agency for white-collar crimes, SFIO (serious fraud investigation office).
The market regulator is looking into violation of securities market regulations, including the strict disclosure requirements about ‘insider dealings’ with the promoters and related parties.
(With PTI Inputs)