He owes 9,000 crore to 17 Indian banks, refuses to come to India, and the two investigative agencies Enforcement Directorate (ED) and Central Bureau of Investigation (CID) are unable to bring him to face Indian law. Vijay Mallya is using the ruse of a failed entrepreneur and every opportunity provided by the gaps in investigation to stay free.
Shortly after ED attached a few of his domestic assets –Mallya’s response says a lot. In his statement he says that ED attaching his assets makes it difficult for him to sell the same and try and pay the loans, and it is legally not valid. He also says that he had submitted all the documents that say that the money has been put to legitimate use, and hence no misappropriation of funds and in answer to the non-bailable warrant against him; he says that he never refused to appear before ED, but just needs some time to sell his assets and pay the loan.
It is obvious that the ED or CBI is not ready with enough evidence to prove serious financial fraud, the absence of which is also the reason why UK denied deportation. And this is despite a couple of banks stating that it is willful default and a few others saying that there was diversion of funds.