The low profile Mallya! ED and CBI probing Winsome group's Jatin Mehta

Now that the Indian authorities have requested the UK to begin the extradition process of liquor-baron Vijay Mallya, they have now turned their focus on Jatin Mehta, who could be dubbed as a low-profile Vijay Mallya.

The Enforcement Directorate (ED) has reportedly asked Dubai to speed up its response to India's letters rogatory sent last year, requesting information about Mehta's Winsome Group, owing Rs 6,800 crore to 15 Indian banks.

Winsome Diamonds and Jewellery, a listed company, and group firm Forever is India’s second-largest loan defaulter after Kingfisher Airlines.

The information that UAE shared with India's Financial Intelligence Unit, which handles inputs on suspect financial transactions, was informal and not very significant.

"We would like Dubai to officially respond to LR. Due to the nature of Winsome transactions and lenders' allegations, we need Dubai's cooperation to make any progress. It won't be easy as Jatin Mehta has taken citizenship of St Kitts, which has no extradition treaty with India," a person in the know told ET.


The ED and Central Bureau of Investigation (CBI) need help from the UAE to verify Winsome’s claim that the group is unable to repay Indian banks.

While Indian agencies have a portion of Mallya’s assets and are trying to auction them to recover their amount, Winsome and Mehta don’t have such assets associated with banks, further posing problem with the authorities who have no means left to recover their money.

(Image source GemKonnect)