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Others in Nirav league: Mallya, Lalit Modi, Bhandari, Talwar

Last Updated 15 February 2018, 09:24 IST

It is not just billionaire diamond merchant Nirav Modi is in the limelight for wrong reasons for their business dealings.

While Modi is speculated to be in Switzerland, it also once again brings to limelight the cases of Vijay Mallya, Lalit Modi, Deepak Talwar and Sanjay Bhandari, who had fled India and wanted in a number of cases.

Mallya (62) often referred to as the "King of Good Times", owes over Rs 9,000 crore to various banks and had left India more than a year ago using a diplomatic passport.

The ED is also seeking to invoke the India-United Kingdom Mutual Legal Assistance Treaty (MLAT) to extradite Mallya from Britain.

The ED and the CBI are jointly investigating a bulk of cases against Mallya, who escaped from India in 2016.

Lalit Modi (52), too faces charges of swindling money, including siphoning off Rs 125 crore from the BCCI, the cricket board.

The ED is pursuing 17 cases of   financial impropriety against Lalit and other former office bearers of the Board of Control for Cricket In India-Indian Premier League (BCCI-IPL) under the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA) for an amount of over Rs 2,200 crore.

Lalit Modi left India in 2010. He did not return despite a series of summons by investigating agencies, prompting courts to issue non-bailable warrants and sanction for initiating extradition proceedings.

Corporate consultant Talwar is facing five prosecution complaints filed by the Income Tax Department on charges of receiving kickbacks crores of rupees in individual and corporate bank accounts controlled by him and his family members.

He is accused of concealing an income of over Rs 1,000 crore. Talwar fled India and is currently in the UAE, where he has been barred from leaving the country.

Arms dealer Bhandari was charged by Delhi Police under Sections 3 and 5 of the Official Secrets Act (OSA) after Income Tax Department officials recovered confidential defence documents during the search operation on his premises.

Soon after, he sneaked out of India. The documents is said to be related to proposals placed before Defence Acquisition Council (DAC).

The Income Tax department also booked Bhandari under the stringent anti-black money Act besides mulling attaching his assets inside and outside the country as part of a tax evasion probe against him.

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(Published 15 February 2018, 09:22 IST)

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