Liquor baron and businessman Vijay Mallya on Monday resigned as MP from Rajya Sabha. “We have examined the entire issue related to Mallya’s case”. Mallya’s MP status was supposed to expire in June 2016.
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The Ethics Committee of Rajya Sabha headed by veteran Congress leader Karan Singh, had on April 25 chose to give Mallya one week time to explain his conduct, which the members said is a “procedural formality”.
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.
Banks are chasing Mallya since he had furnished personal guarantees against the loan facilities extended to his now-defunct airline, Kingfisher, grounded in 2012. Mallya, who left India on March 2 and is now in London, has a non-bailable warrant against him in a money-laundering investigation.
The channel also reported that Mallya, in his letter, said he was unfairly dragged into the controversy. Mallya has been a member of the House since 2010, and has been in the United Kingdom since March 2.
The beleaguered liquor baron resigned from the Upper House just a day before the House to take a final call his termination.
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In a recent interview given to UK-based Financial Times, Mallya had warned that revoking his passport and arresting him wouldn’t help lenders get back money.
