Home >> Business

Kingfisher loan case: ED summons former IDBI chairman Yogesh Agarwal

The Enforcement Directorate on Tuesday issued a summon notice for former IDBI chairman Yogesh Agarwal in connection with the Kingfisher loan case. The agency has been questioning IDBI officials about the loan disbursal to Vijay Mallya's company.

The agency is investigating if the loan money was used by Kingfisher Airlines to clear debts owed to other banks.

Meanwhile, a Hyderabad court has issued five more non-bailable warrants against Vijay Mallya and former chief financial officer of the long-grounded aircraft. Fresh warrants have been released based on GMR group's petition. The group has complained that Mallya failed to meet the financial obligations and cheques issued by KFA bounced.

The Enforcement Directorate has asked the liquor mogul to appear before it in Mumbai on March 18 as part of its money laundering investigation.

While it has been widely stated that he had fled to London, Mallya himself has been quiet about his whereabouts. He has been tweeting intermittently and saying he is not an "absconder" and he would obey the "law of the land."