Mallya won't appear before ED today

Liquor baron Vijay Mallya will not appear before the Enforcement Directorate (ED) on Saturday in connection with a money laundering probe in the over Rs 900 crore IDBI loan fraud case.

This is the third time he hasn't presented himself after being summoned. The agency had issued fresh summons, also the third, last week to Mallya asking him to appear before it on April 9, after he sought two extensions from the earlier dates of March 18 and April 2 citing certain official reasons.

ED officials had earlier hinted that the April 9 summons could possibly be the last to Mallya as under the Prevention of Money Laundering Act (PMLA) such action can be undertaken for a maximum of three times only.

The Investigating Officer (IO) of the case had allowed his plea to postpone his appearance till now, both on technical and legal grounds.

It is understood that Mallya, while seeking the extensions, had informed the



IO that cases related to bank loans were currently sub-judice in the Supreme Court and he was trying to settle these loans with the help of his legal and corporate team and, hence, would require some more time.

Mallya was first summoned by the agency to "appear in person" at its office in Mumbai on March 18 but he sought more time citing his prior engagements, following which the agency asked him to depose on April 2.

Mallya, who is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks, was also yesterday directed by the Supreme Court to disclose by April 21 the total assets owned by him and his family in India and abroad.

The bench agreed with the consortium that Mallya's presence was necessary in the country to show his bona fides that he was serious about settling his dues.

He is currently reported to be in the UK after he left India on March 2.