NEW DELHI (TIP): In a major development that may spell more trouble for controversial businessman Vijay Mallya, Britain’s Serious Fraud Office (SFO) is conducting a probe against the liquor baron for alleged “money laundering” in UK and beyond.

Top sources said that British investigators are probing alleged use of several companies for laundering money from India to UK through a circuitous route and a complex web of companies, and further to Switzerland and other countries.

In fact, sources said, SFO has already collected substantial information about Mallya’s movable and immovable assets, his investment and shares in various companies in the UK and bank account details. The financial investigation agency decided to initiate an independent probe against Mallya to examine whether the alleged money laundering involved British companies linked to him.

The UK authorities have informed India about its independent ‘formal’ probe against Mallya while seeking details of alleged money laundering and assets abroad from CBI and ED.

Government sources say the SFO action should strengthen India’s extradition case against Mallya, presently being heard in Westminster Court. To enable extradition of Vijay Mallya from London, a ‘dual criminality’ clause of his illegal activities has to be established according to the extradition treaty between two countries. The clause demands cheating of public banks in India by Mallya, and subsequent, money laundering has to be proved a ‘crime’ in the eye of British law as well. Source: TOI