Advait Sethna, service tax department counsel says the Bombay High Court has fixed the hearing in the service tax case against Vijay Mallya for March 28.
Sethna says the department was against the order to grant bail to the MD and others of Kingfisher Airlines considering non-payment of service tax collected from the passengers but not paid to the government amounts is a non-bailable offence.
Meanwhile, sources have informed CNBC-TV18 that CBI has changed the lookout notice for Mallya from “detain” to “inform” citing lack of enough evidence to issue a firm warrant for return.
However, the CBI also seems to have heard from Mallya’s lawyers that he will return to India by the end of the month or early next month.
CNBC-TV18 sources within the CBI have also hinted at a possibility of an official “detain” warrant being issued If Mallya does not meet the deadline stated by his lawyers.
On Thursday, the Enforcement Directorate had summoned A Raghunathan, the CFO of Kingfisher Airlines (KFA), as well as five officials of IDBI Bank as part of its probe into the money laundering case.
The ED is investigating if Rs 300 crore of the Rs 900 crore lent IDBI to KFA was sent abroad. KFA, however, has maintained that the money was used to procure aircrafts and spare parts.With inputs from CNN IBNWatch video for more..
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