Billionaire liquor tycoon, Vijay Mallya, on Monday resigned as Rajya Sabha MP.
Mallya is currently wanted by ED in several cases including defaulting on thousands of crores of loan.
His passport has already been revoked by the government.
A week ago, the Rajya Sabha’s ethics committee had decided to unanimously expel Mallya from the parliament.
Mallya has said that the Indian government will not be able to recover any money from him by taking his passport or arresting him.
The committee had given him a week’s time to explain his conduct in the default on bank loans in excess of Rs. 9,000 crore extended to his Kingfisher Airlines Ltd.
The government had revoked the passport of Mallya, who is believed to be in the UK after leaving India on March 2.
Rajya Sabha membership of Mallya as an independent lapses on 30 June 2016.