Indian parliament accepts Mallya’s resignation


India’s parliament on Wednesday accepted Vijay Mallya’s resignation of his seat, after the embattled liquor tycoon resubmitted his letter in line with the correct procedures. The 60-year-old multimillionaire left India for Britain on March 2 owing more than £1 billion in unpaid loans, and is being investigated by India’s financial crimes agency. The government has revoked his passport and asked Britain to deport him, but Mallya told the Financial Times last week he had no plans to leave and wanted to reach a “reasonable” settlement with Indian banks. Mallya had resigned from his seat in parliament’s upper house—or the Rajya…

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