Beleaguered liquor baron Vijay Mallya on Wednesday announced he will retire as chairman of Sanofi India and will not seek reelection as a director of the drug maker.
ED's zonal office in Mumbai, they said, is preparing legal papers to take the next step in the wake of Mallya skipping the third summons that required him to "personally" join investigations on April 9.
'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
India had given a formal extradition request for Mallya as per the Extradition Treaty between India and the UK through a note verbale on February 8
Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, on Monday resigned from Rajya Sabha.
Liquor baron Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, is all set to be expelled from the Rajya Sabha as Chairman Hamid Ansari on Tuesday turned down his resignation on procedural grounds.
