Mallya faces fresh money laundering charge sheet

Agencies
June 17, 2018

New Delhi, Jun 17: In more trouble for liquor baron Vijay Mallya, the Enforcement Directorate (ED) is set to soon file a fresh charge sheet against him and his companies on charges of money laundering and allegedly cheating a consortium of nationalised banks to the tune of Rs 6,027 crore, officials said today.

With this charge sheet (also known as the prosecution complaint), official sources told PTI, the central probe agency will immediately seek from a court permission to "confiscate" more than Rs 9,000 crore worth assets of the beleaguered businessman and his firms under the recently promulgated Fugitive Economic Offenders Ordinance.

The ED last year had filed its first charge sheet against Mallya, now in London, in the about Rs 900 crore IDBI bank-Kingfisher Airlines (KFA) alleged bank loan fraud case.

It has attached assets worth  Rs 9,890 crore in this case till now.

The forthcoming charge sheet will revolve around the complaint received from the State Bank of India (SBI) on behalf of the consortium of banks for causing loss of Rs 6,027 crore to them by not keeping repayment commitments of his loan (by Mallya firms) taken during 2005-10, they said.

The ED has based its investigation in this instance after taking cognisance of a CBI FIR and the charge sheet will be filed before a special court in Mumbai under the Prevention of Money Laundering Act (PMLA).

It was alleged that SBI and its consortium banks had advanced various credit facilities to KFA Limited during the period between 2005 and 2010.

During 2009-10, the company failed to meet its repayment commitments to the bank from whom it had availed credit facilities and the airlines did not keep its account with the consortium banks regular which became NPA (non performing asset), the CBI FIR had stated.

The consortium banks, therefore, recalled credit facilities and also invoked corporate guarantee of UBHL (united breweries holdings limited) and personal guarantee of Mallya, it had alleged.

It was alleged that there was a conspiracy among group companies promoter and unknown others to cheat the lenders, the CBI had said.

The ED, officials said, had found that a maze of shell or dummy firms were used to allegedly siphon off these funds and this is expected to be stated in the upcoming charge sheet.

The agency, empowered by the Union government to enact the new fugitive ordinance in the country, will seek an official declaration to categorise Mallya as a "fugitive" on the basis of the cognisance of this prosecution complaint (charge sheet).

Mallya is contesting these charges in London as part of India's efforts to extradite him from there and face the legal system here in connection with these charges.

The central probe agency had recently begun the work to bring together the existing cases of high-value bank loan defaulters for getting them notified under the new legislation. 

As per the existing process of law under the PMLA, the ED can confiscate assets only after trial in a case finishes which usually takes many years.

The Modi government brought the ordinance as "there have been instances of economic offenders fleeing the jurisdiction of Indian courts, anticipating the commencement, or during the pendency, of criminal proceedings," the government said.

The Fugitive Economic Offenders Bill, 2018 was introduced in the Lok Sabha on March 12 but couldnt be taken up due to logjam in Parliament over different issues.

With Parliament being adjourned sine die, an ordinance was proposed.

The Union Cabinet on April 21 approved the ordinance and the President gave his assent to promulgation of the same a day later.

The ordinance makes provisions for special courts under the Prevention of Money Laundering Act, 2002 to declare a person as a fugitive economic offender and order immediate confiscation of assets.

"A Fugitive Economic Offender is a person against whom an arrest warrant has been issued in respect of a scheduled offence and who has left India so as to avoid criminal prosecution, or being abroad, refuses to return to India to face criminal prosecution," the government said.

Cases of frauds, cheque dishonour or loan default of over Rs 100 crore would come under the ambit of this ordinance.

The ordinance offers necessary constitutional safeguards in terms of providing hearing to the person through counsel, allowing him time to file a reply, serving notice of summons to him, whether in India or abroad and appeal before the high court.

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News Network
April 27,2020

New Delhi, Apr 27: A private hospital here claimed that a coronavirus patient, who was administered plasma therapy for the first time in the facility, was discharged on Sunday after being completely cured.

The 49-year-old man had tested positive for COVID-19 on April 4 and was admitted to Max Hospital, Saket, it said in a statement.

As his condition deteriorated, he was put on ventilator support on April 8, the hospital added.

When the patient showed no signs of improvement, his family requested for administration of plasma therapy on compassionate grounds, it said, adding that the family arranged a donor for extracting plasma.

The patient was administered fresh plasma as a treatment modality as a side-line to standard treatment protocols on the night of April 14, the statement said.

Subsequently, the patient showed improvement and by the fourth day, was weaned off ventilator support and continued on supplementary oxygen. He was shifted to a room with round-the-clock monitoring on Monday after testing negative twice within 24 hours, it said.

He has now fully recovered and was discharged, the hospital said, adding that he will stay at home for another two weeks.

Group medical director of Max Healthcare and senior director of the Institute of Internal Medicine Dr Sandeep Budhiraja said, "We can say that plasma therapy could have worked as a catalyst in speeding up his recovery. We cannot attribute 100 per cent recovery to plasma therapy only, as there are multiple factors which carved his path to recovery."

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News Network
February 26,2020

Mumbai, Feb 26: Observing that the violence in Delhi is akin to a "horror film" depicting the grim reality of the 1984 anti-Sikh riots, the Shiv Sena on Wednesday said the "bloodbath" has brought disrepute to the national capital like never before while US President Donald Trump was in India with the "message of love".

The editorial in party mouthpiece 'Saamana' lamented that Trump was welcomed in Delhi while there was bloodbath on the streets.

It further said that the violence could potentially spread the message that the Central government has failed to maintain the law and order situation in Delhi.

"Violence has erupted in Delhi. People are on the streets equipped with canes, swords, revolvers, blood is being spilled on the roads. Some horror film-like situation is being witnessed in Delhi, which depicts the grim reality of the 1984 riots," the Sena said.

It further said the BJP was still blaming the Congress for the deaths of hundreds of Sikhs in the violence that was erupted after assassination of then Prime Minister Indira Gandhi.

It needs to be unravelled who is responsible for the current riots in Delhi, the Sena said while referring to the "language of threats and warning used by some BJP leaders".

"The national capital was burning at a time when Prime Minister Narendra Modi and visiting US President Trump were holding talks.

"It does not augur well that Trump was welcomed in Delhi with the horror film of violence, bloodbath on the streets, screams of people, and tear gases. Trump saheb came to Delhi with a message of love, but what unfolded before him? 'Namaste' in Ahmedabad and violence in Delhi. Never before Delhi was defamed like this," the editorial said.

Trump had begun his February 24-25 India visit from Ahmedabad in Gujarat.

Seventeen people have died so far and over hundred were injured in the violence that has gripped several parts of north east Delhi over the Citizenship Amendment Act (CAA) since Sunday.

Attacking the Central government over reports that the violence was timed with Trump's visit, Sena said, "the Union Home Ministry has alleged that a conspiracy was hatched to defame India internationally by triggering the violence during Trump's visit to the national capital.

"The Home Ministry not knowing about the conspiracy behind the violence over the CAA is detrimental to national security. There is no problem in controlling the riots with the same courage with which Article 370 and 35A were scrapped," the editorial said.

It further said the anti-CAA protest at Shaheen Bagh in Delhi was yet to be called off yet despite the Supreme Court appointing mediators.

"It is being said that the violence sparked off after some BJP leaders talked the language of threats and warning. So, did someone want the peaceful agitation (at Shaheen Bagh) to acquire the present form of riots? (They) could have waited for at least Trump to leave the country," the Sena said.

The Uddhav Thackeray-led party also questioned the timing of the riots, which are occurring days after the results of the Delhi assembly polls.

"It is mysterious that the violence broke out days after the BJP lost the Delhi assembly elections. The BJP lost and now this is the condition of Delhi," the Sena said.

The Uddhav Thackeray-led party, a former ally of the BJP, now shares power in Maharashtra with the NCP and the Congress.

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News Network
July 1,2020

Mumbai, Jul 1: Mumbai police on Wednesday imposed section 144 of CrPC prohibiting the movement of people in public places and gatherings, to prevent the spread of Covid-19, an official said.

The prohibitory order, issued by a senior police official, says restrictions on the movement of residents for non- essential work will remain in force till July 15.

The order prohibits "presence or movement of one or more persons in public places or gathering of any sort", the official said.

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