The agency is also investigating the overall financial structure of Kingfisher Airlines.
The Enforcement Directorate on Friday said it will seek the help of RBI and SEBI to ensure that Mallya group of companies are not able to create third party rights to dispose of its stakes.
The proclamation was issued by a special anti-money laundering court on June 14 under Section 82 of the Criminal Procedure Code
When contacted whether Letters Rogatory have been sent, CBI sources said "it is in the process".
A consortium of Indian banks led by the State Bank of India (SBI) returned to the High Court in London for a bankruptcy application hearing against liquor tycoon Vijay Mallya, as they pursue the recovery of debt from loans paid out to his now-defunct Kingfisher Airlines. At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian Supreme Court justices as expert witnesses on Indian law in support of their arguments for and against a bankruptcy order against Mallya in the UK. While the banks argued a right to waive their security over the Indian assets involved in the case in order to recover their debt in the UK, lawyers for the 65-year-old businessman argued that the funds in question involved public money held by state-owned banks in India which precluded them from such a security waiver.
The agency is looking at alleged "diversion of funds and financial reporting frauds".
A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya by a consortium of Indian banks, led by the State Bank of India (SBI).
The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met.
The ED has pressed charges under various sections of the Prevention of Money Laundering Act against Mallya and others named in the CBI complaint
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin earlier this year, until further arguments in the case. However, he did allow the release of 240,000 pounds plus VAT to cover the legal costs of a substantive hearing in the bankruptcy proceedings scheduled for next Friday.
The next phase is when factors such as prison conditions in India are likely to take centre-stage.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
ED has approached the MEA seeking initiation of deportation.
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
The Enforcement Directorate (ED) had also published in leading dailies the court-issued proclamation against Mallya for appearance before the special PMLA court.
Under Section 83 of the CrPC, ED may seek attachment of more of his property.
ED has approached the MEA seeking initiation of deportation proceedings against liquor baron Mallya
A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. "As at 15.42 [UK time], I shall adjudicate Dr Mallya bankrupt," Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling during a virtual hearing of the Chancery Division of the high court. "I have to decide if there is a real prospect of payment of petition debt in full within a reasonable period of time... there is insufficient evidence that [Mallya's asset realisations in India] will pay the debt in full within a reasonable period of time," Judge Briggs noted, in reference to defence arguments pointing to a restoration process in India following a Prevention of Money Laundering Act (PMLA) court order for the attachment of Mallya's assets.
SBI-led consortium expects to make over Rs 13,000 crore from sale of assets
Enforcement Directorate to approach court to attach industrialist's properties worth Rs 4,000 crore
An official request has been made to the CBI to get a notice issued through its Interpol wing
The judge, during arguments, said it was "blindingly obvious" that "rules were broken by the bank" and that they had "gone against their own guidelines" in extending a loan to the business tycoon's now defunct Kingfisher Airlines.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
RTI activist Anil Galgali had asked SBI about the total amount of loans given to the beleaguered businessman.
The treaty can be invoked in a criminal probe case seeking the transfer of persons, including persons in custody, for the purpose of assisting in investigations or giving evidence
SFIO is looking into the role of Grant Thornton LLP which had valued the brand.
The Enforcement Directorate (ED) ED will soon seek an Interpol arrest warrant against liquor baron Vijay Mallya based on a non-bailable warrant issued on Monday by a Mumbai court in a money laundering case.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
Besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have also been named as accused
Valuers have found almost no assets to pay for their claims against the Videocon group that entered the insolvency process in 2018. But the dissenters suggest that the money is elsewhere, possibly in the group's oil and gas assets, which are not part of the group's bankruptcy case.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
The meeting will review annual financial performance of public sector banks, credit offtake in the economy, priority sector lending and progress made under various social sector schemes, including Atal Pension Yojana (APY) and Pradhan Mantri Jan Dhan Yojana.
The Ethics Committee of Rajya Sabha headed by veteran Congress leader Karan Singh, decided to give Mallya one week time to explain his conduct.
The enforcement agency had received queries from the Interpol to this effect in May last week.
However, it is understood that the liquor baron has suggested his legal team can help ED in taking the probe forward.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
