Vijay Mallya used 13 shell companies to launder over Rs 1,300 crore, says ED

The Enforcement Directorate (ED) has said that former liquor baron Vijay Mallya, who fled India to avoid repaying millions of dollars of loan to Indian banks, had laundered more than Rs 1,300 crore using 13 shell companies in countries like US, Ireland, Mauritius and France.

The latest indictment was made in the charge sheet that ED filed on June 14 in the money laundering case that involves a loan of about Rs 900 crore from IDBI-KFA bank.

Other than Mallya, there are eight more people indicted in the 57-page long charge sheet for their alleged roles in the case.

The charge sheet was filed under various sections of the Prevention of Money Laundering Act (PMLA) and was presented before a special anti-money laundering court in Mumbai.

Mallya, who has been in the UK since March 2016, was arrested by Scotland Yard on April 18 this year, and India has been trying to extradite him from the UK for the loan fraud cases.