In the searches conducted on Wednesday, the federal anti-money laundering agency also recovered and froze Demat accounts with an investment valued at about Rs 2.5 crore.
The consortium banks, therefore, recalled the credit facilities and also invoked corporate guarantee of UBHL and personal guarantee of Mallya, it alleged.
The next date for the hearing in the case is September 3, as ordered by the court of special PMLA judge M S Azmi, they said.
The Enforcement Directorate (ED) on Wednesday arrested R. Subramanian, the promoter of retail chain Subhiksha, in an alleged bank fraud…
A court here on Thursday granted bail to businessman Gagan Dhawan, arrested in connection with an over Rs 5,000 crore…
