Recovery of assets doesn't absolve Mallya of PML charges: ED to HC

Former liquor baron Vijay Mallya continues to evade the legal process in India, and the recovery of debts by the banks does not absolve him of the money laundering charges, the Enforcement Directorate (ED) has submitted to the Bombay High Court. The central agency on September 8 filed its affidavit in response to a petition filed by Mallya in 2020 seeking a closure of the criminal cases lodged against him. His dispute with the banks was settled after the debts were recovered, he had contended. The ED opposed Mallya’s 2020 petition seeking closure of criminal cases against him. The agency said, properties worth 14,131.6 crore rupees had been handed over to the SBI-led consortium, but this does not lead to the withdrawal of the money laundering charges.  
The ED said Mallya left India in March 2016 and failed to appear before investigators despite repeated summons. A non-bailable warrant was issued against him, and he was declared a proclaimed offender in November 2016. Mallya is accused of laundering and misappropriating at least 3,500 crore rupees from 9,000 crore rupees in loans given to his now-defunct Kingfisher Airlines. The ED had attached his properties in 2016, while a special court in 2019 allowed SBI and other lenders to use the attached movable assets, including United Breweries Holdings Ltd shares, for debt recovery.