ED v. Vijay Mallya -- Kingfisher Airlines money laundering (PMLA)

Court: Special PMLA Court, Mumbai · Status: TRIAL · Type: MONEY_LAUNDERING

ED registered ECIR/03/MBZO/2016 against Vijay Mallya for laundering IDBI Bank loan proceeds into overseas properties and accounts. Mallya was declared India's first Fugitive Economic Offender on 5 January 2019. ED attached assets worth Rs 6,630 crore from Mallya and Rs 1,441 crore from associates. Banks have recovered Rs 14,131.6 crore through liquidation of seized assets as of December 2024.

Timeline

• 2016-01-01 Fir Filed: ED registers Enforcement Case Information Report ECIR/03/MBZO/2016 against Vijay Mallya for money laundering under PMLA in connection with Kingfisher Airlines IDBI Bank loan proceeds. [source]
• 2016-11-01 Order: ED makes fresh seizures of Rs 1,700 crore worth of Vijay Mallya's assets including pledged shares in United Breweries and United Spirits under PMLA attachment orders. [source]
• 2019-01-05 Order: Special PMLA Court, Mumbai, declares Vijay Mallya a Fugitive Economic Offender under the Fugitive Economic Offenders Act 2018 -- the first major declaration under that legislation. All Indian assets become liable for confiscation. [source]
• 2021-07-20 Order: UK Supreme Court dismisses Vijay Mallya's final appeal against extradition to India (UKSC 2020/0145). All judicial avenues in the UK exhausted. Physical transfer now dependent on UK Home Office executive action. [source]
• 2024-12-17 Other: Finance Minister Nirmala Sitharaman informs Parliament that banks have recovered Rs 14,131.6 crore from Vijay Mallya via ED-attached asset liquidation -- exceeding the principal loan amount. Mallya publicly contests the figures. [source]

Accused means charged, not convicted. We report what courts state. Every claim is sourced.