MALLYA DEBT

Vijay Mallya resigns from Rajya Sabha

PTI4_29_2016_000107B UB Group chairman Vijay Mallya at an interview with the Financial Times in London | via PTI
  • The resignation has come after the Ethics Committee of Rajya Sabha unanimously recommended the expulsion of the liquor baron from the upper house of Parliament.

Liquor baron Vijay Mallya, whose passport has been revoked by the government, on Monday resigned from the Rajya Sabha.

He sent his resignation to Rajya Sabha Chairman Hamid Ansari on Monday, sources said.

The resignation has come after the Ethics Committee of Rajya Sabha unanimously recommended the expulsion of the liquor baron from the upper house of Parliament.

Mallya, wanted for defaulting bank loans to the tune of Rs 9,000 crore, was an Independent member of the Rajya Sabha from Karnataka. He was given a week's time, ending Tuesday, to put in his papers.

According to Parliament sources, during his tenure of almost 10 years as member of the Rajya Sabha, Mallya had been declaring his assets and liabilities as "nil".

The union government too had revoked Mallya's passport after he failed to turn up for a probe into a Rs 9,431 crore default of loans from Indian banks. This has set in motion the process for the billionaire's possible deportation from Britain, where he is staying at present.

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Topics : #Vijay Mallya

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