The Supreme Court on Thursday gave a final opportunity to fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, to appear before it personally or through his lawyer in a contempt case where he has been found guilty. The top court said it has given multiple opportunities to Mallya to appear either personally or through a lawyer and had even given specific directions in its last order dated November 30, 2021. A bench of justices U U Lalit, S Ravindra Bhat and P S Narasimha posted the contempt case for further hearing after two weeks, saying that respondent contemnor (Mallya) is at liberty to act as per direction given in order dated November 30 last year, failing which the matter shall be taken to its "logical conclusion".
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
Nirav Modi, the fugitive diamond merchant wanted in India to face charges of fraud and money laundering in the estimated $2-billion Punjab National Bank (PNB) scam case, has lodged his appeal against extradition from the UK and the case will be heard at the high court in London on December 14. The 50-year-old jeweller, who remains behind bars at Wandsworth Prison in south-west London since his arrest in March 2019, was granted permission to appeal against the Westminster Magistrates' Court extradition order on mental health and human rights grounds. High court judge Martin Chamberlain had ruled on August 9 that arguments presented by Modi's legal team concerning his "severe depression" and "high risk of suicide" were arguable at a substantial hearing.
He said that Government of Dominica and law enforcement agencies, unless the court rules otherwise, can deport him to India because he is an Indian citizen, Antigua News Room reported.
Sebi orders attachment of bank, demat accounts of Mehul Choksi and Gitanjali Gems after they failed to pay fine imposed on them.
'It's a moot point if Kailaasa will ever evolve beyond being a haven for a fugitive from justice,' notes Devangshu Datta.
Supreme Court judge Justice Rohinton Fali Nariman on Monday recused himself from hearing liquor baron Vijay Mallya's petition against the confiscation of his properties by the Enforcement Directorate.
The 48-year-old, who has been lodged at Wandsworth prison in south-west London, appeared via videolink from prison before district judge David Robinson. "I am told that your case is proceeding in accordance with the directions for a final hearing on 11 May," the judge told Modi, as he set the next 28-day remand hearing via videolink for February 27. Modi's extradition trial is scheduled for five days starting May 11, with the case management hearings in the case set to begin once all the evidence has been handed in to the court for the trial.
The Centre on Monday told the Supreme Court that it is taking all measures to extradite fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines from United Kingdom, but the process is being delayed due o some legal issues involved in the matter. A bench of Justices U U Lalit and Ashok Bhushan posted the matter for further hearing on March 15, after Solicitor General Tushar Mehta sought some time to file report on the status of extradition of Mallya. At the outset, Mehta shared a letter of the ministry of external affairs' official Devesh Uttam written to him on the status of extradition of Mallya from the United Kingdom.
CBI Jt. Director, A K Sharma, weakened Mallya's "Look Out" notice, says Rahul.
'I was shocked by the kidnapping episode. I could have lost my life.'
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India (SBI), had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate. The special PMLA court in Mumbai on Tuesday allowed the restoration of properties worth Rs 5,646.54 crore to banks.
Choksi is wanted in India by the CBI and the Enforcement Directorate, which are probing the PNB fraud, the biggest banking scam in the country. India continues to pursue Choksi's return with the government of Antigua through diplomatic and legal channels.
Choksi, who was allegedly the partner-in-crime of his nephew Nirav Modi in the banking fraud, refused to say anything further on the issue, on the advice of his lawyers.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Describing Rana as a flight risk, the US government opposed his release on bail, arguing that if he were to flee to Canada, he may escape the possibility of a death sentence in India.
Businessman Vijay Mallya's property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday. It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property bears the address: 32 Avenue FOCH in France.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
'Shouldn't our investigation agencies be fiercely independent and conduct fair investigations, show some spine and say no to such witch hunting?' 'That they will not be cowed down by what the Centre wants them to do.'
NCP chief Sharad Pawar said that Malik is being troubled because he spoke against the Union government and 'misuse' of central probe agencies.
The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief.
A spokesperson in the UK high commission said the issue is "confidential" and added: "We cannot estimate how long this issue will take to resolve." "Vijay Mallya last month lost his appeal against extradition, and was refused leave to appeal further to the UK Supreme Court. However, there is a further legal issue that needs resolving before Mr Mallya's extradition can be arranged," the spokesperson said.
Counsels for AgustaWestland VVIP chopper scam accused Christian Michel and fugitive diamantaire Nirav Modi were also the potential targets of Israeli spyware Pegasus.
The agency's poor track record in convictions is the only light at the end of a rather long tunnel for the couple, observes Shyamal Majumdar.
With Hansal Mehta's Scam 1992 bringing it up so interestingly, Joginder Tuteja looks back at films that have dealt in the stock market.
The ED officer will carry the latest charge sheet filed by the agency against Modi's wife Ami and the recent attachments made by it in the case.
The 49-year-old jeweller, wanted in India on charges of fraud and money laundering in the estimated USD 2-billion Punjab National Bank (PNB) scam case, further remanded in custody during a routine call-over hearing held via videolink at Westminster Magistrates' Court in London.
The Government of Dominica has told a court there to reject the habeas corpus petition filed on behalf of businessman Mehul Choksi who had claimed that he was abducted and forcefully brought to the Caribbean island nation, local media reported. The high court of Dominica ordered that the businessman be produced in a magistrate court to answer charges of his illegal entry into the country and adjourned the hearing on the habeas corpus petition till Thursday, according to local media. Rejecting the submission of Choksi who is wanted in India in an alleged Rs 13,500 crore loan fraud case in Punjab National Bank, the prosecution said the habeas corpus petition does not stand as he had illegally entered the country and was subsequently detained.
Modi appeared for his regular 28-day "call-over" appearance from London's Wandsworth prison at Westminster magistrates' court, where judge Gareth Branston reconfirmed that his extradition trial will begin on May 11 next year and will last five days.
Both Purvi Deepak Modi and Neeshal Modi are accused in the $2-billion scam allegedly orchestrated by their elder brother Nirav Modi and uncle Mehul Choksi in Punjab National Bank, they said.
Rocket Boys offer an overwhelming experience to me and many others who saw Homi Bhabha in action at Trombay, observes Dr K S Parthasarathy, former Secretary, Atomic Energy Regulatory Board.
Gandhi on Thursday accused Jaitley of lying to hide the "free passage" he allegedly gave to Mallya to flee to London, while the ruling party counter-claimed that the Gandhi family had tried to salvage the sinking Kingfisher Airlines with a "sweet deal".
NCP chief Sharad Pawar said his party had anticipated such an action against its leader Malik as he 'speaks openly'.
The accused, Palash Bose, had claimed himself to be a member of Dawood Ibrahim's gang while making these phone calls, they said. An official said Bose, 49, had lived in Dubai for more than 15 years and returned to Kolkata a few years ago.
The Samajwadi Party, the Rashtriya Lok Dal and some smaller parties will contest the 2022 Uttar Pradesh assembly polls together, and an announcement in this regard would be made soon, SP chief Akhilesh Yadav said on Tuesday.
Fugitive businessman Vijay Mallya was booed by a section of India supporters as he entered the Oval arena to watch India's crucial ICC Champions Trophy encounter against South Africa, in London.
According to police, 'Matoshree' received two calls on Saturday night from a man, who said he was calling from Dubai on behalf of fugitive underworld don Dawood Ibrahim. Following this, the police have beefed up security at the bungalow located in Kalanagar Colony, a police official said.
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
'After he had exposed the Narcotics Bureau's wrongdoings, he threatened to expose the Enforcement Directorate as well.' 'So they are trying to rake up an old legal deal, distorting information and using the PMLA which did not even exist at that time.'
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