Accused of pulling off possibly India’s biggest bank fraud, joins a list of business tycoons cum economic offenders who fled India after committing fraud.
Fugitive tycoon Mallya is wanted in India on several charges of fraud and money laundering. He defaulted on bank loans over Rs 9,000 crore and left India more than a year ago using a diplomatic passport. He currently resides in London. He has been declared a “proclaimed offender” on a request by the Prevention of Money Laundering Act court on request of Enforcement Directorate. On April 18, 2017, Mallya was arrested by the UK Metropolitan Police extradition unit “on behalf of the Indian authorities in relation to accusations of fraud”, and he was then released on bail pending further consideration of the case.
52-year-old Modi faces charges of swindling money, including siphoning off Rs 125 crore from the BCCI, the Indian cricket board. He moves to London in 2010. He has been issued series of summons by investigating agencies, to which he did not respond. This prompted ED to request Interpol to issue a global warrant against him. Indian courts have issued several non-bailable warrants and sanctions against him for initiating extradition proceedings.
SK Hooda / Surendra Kumar Hooda
He is the promoter and director of AN Buildwell. A company that’s behind Spire Edge in Manesar, a commercial project, and Spire Woods in Sector 103, a housing project. Mired in controversy since the launch of the two projects, all directors (SK Hooda & Sunil Gandhi) of AN Buildwell resigned, and construction work at their sites has been at a standstill for three years. The company went into purposeful liquidation in 2016 so as to escape from the liabilities to fulfil obligation towards customers and to cover up their acts of mismanagement. More than 1,800 buyers have invested in two projects of AN Buildwell now looking for revival of both the projects.
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