The Indian government has temporarily suspended Vijay Mallya’s passport, awaiting a response from the Indian businessman shortly. Although the suspension is only temporary at the moment, the Indian government could revoke his passport in a few weeks.
Mallya fled to the United Kingdom in March to avoid the repayment of over $1.3 billion in bank loans from a collection of banks, some of which are state-run. The courts have been requesting that he disclose his total assets to the court by no later than April 21, as the banks have approached the Indian Supreme Court to seek repayment.
Recently, the Force India F1 Team CEO has been involved in another investigation for loan fraud and money laundering in connection with the state-run IDBI Bank. The investigation is about some money that was loaned to Mallya’s former airline company, Kingfisher Airlines. Although the 60-year-old has not been charged with anything, the authorities are seeking his cooperation with the investigation.
Earlier this week, the Enforcement Directorate has proposed that the Indian government revoke Mallya’s passport in order to get him to return to the country. The government has responded with a four week passport suspension. He now has one week to provide an explanation as to why his passport should not be impounded. If he fails to respond within that period, the Indian authorities will revoke his passport and seek his deportation to India.
Once a prominent figure on the Formula One grid, the CEO of the Force India F1 Team has been absent from the sport for some time as a result of his legal issues. He is believed to still be in the United Kingdom and continues to post regularly on social media.
Mallya Could Lose Passport And Face Deportation
Vijay Mallya Leaves Debt In India
