The raids were carried out in connection with a money laundering case.

CBI raids offices of Mallyas UB Group in Bengaluru
news Mallya Row Monday, January 23, 2017 - 17:34

The Central Bureau of Investigation (CBI) on Monday conducted raids at offices of Vijay Mallya’s UB Group in connection with a money laundering case.

According to a Mint report, the raids were conducted by the central division of the agency with assistance from the Bengaluru division.

“A CBI team visited the UB Group offices in Bangalore today and we are fully cooperating with them,” a UB spokesperson was quoted as saying in the report.

These raids come after the Debt Recovery Tribunal (DRT), Karnataka, told the SBI-led consortium of banks to recover over Rs 6,000 crore of loans from Mallya, Kingfisher Airlines and associated companies in the Supreme Court this week.

The group has also been asked to pay interest of 11.5 per cent on the total amount from the date of filing the original application, as per a report in The Hindu.

The Supreme Court had asked the beleaguered liquor baron to respond to the allegation by banks that he had transferred the Diageo Plc. payout of $40 million to his children, in violation of the orders by the Debt Recovery Tribunal and the Karnataka High Court.

Mallya has been in UK since March 2016 and his passport was suspended by the external affairs ministry in April last year. India had asked for his deportation but the UK government declined and said it will assist with his extradition.  

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