Kingfisher Airlines Lenders seek to intervene at the PMLA Appellate Tribunal

Varun Marwah July 4 2018
Kingfisher Airlines

A consortium of banks has filed an intervention application before the PMLA Appellate Tribunal, in an appeal by United Breweries Holdings Ltd. (UBHL) against an order passed by the Enforcement Directorate (ED).

One of the many agencies probing the Vijay Mallya fraud is the ED. The probe pertains to loans advanced by the consortium members to Kingfisher Airlines, which were guaranteed by UBHL and Mallya himself.

Just recently, the SEBI had also barred Mallya and two others from the capital markets for diversion . . .

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