Mallya released on bail after arrest in money laundering case - Tax Corner

3 Oct 2017

Mallya released on bail after arrest in money laundering case

Liquor baron Vijay Mallya was arrested in London in a money laundering case but was released shortly thereafter on bail, according to news reports.
Mallya stands accused of willfully defaulting on loans worth Rs. 9,000 crore taken from a consortium of Indian banks.
In March 2016, Mallya fled to London.
In April this year, he was arrested and subsequently released on bail.

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