Vijay Mallya was accused of cheating, conspiracy in IDBI loan default case.
A charge-sheet was filed against tycoon Vijay Mallya in the Rs 900 crore loan default case by the Central Bureau of Investigation, paving the way for a request for his extradition from the UK. Mr Mallya has been accused of conspiracy and cheating. Wanted in a series of loan default cases, the liquor baron, has also been named as an absconder in the 1000-page charge-sheet, which was filed at a court in Mumbai today.
The loan was given to Mr Mallya's now defunct Kingfisher Airlines by the IDBI bank in 2009-10 bending the rules of the Reserve Bank, the agency said in the chargesheet, filed after year-long investigations.
The money was given in two tranches. One loan was passed on a Sunday, keeping the bank open specially for the purpose, agency said.
Of the money, Rs 250 crore, meant to buy aircraft parts, was diverted outside the country, the agency said. Most of it ended up in the UK, where Mr Mallya is currently residing. The Enforcement Department, which is investigating the charges of money laundering, has attached property worth Rs. 1,411 crore belonging to Mr Mallya and his United Breweries.
Former chairman of IDBI Bank Yogesh Aggarwal and 7 others, who were arrested on Monday, have also been named in the case. The others include a former senior official of the Kingfisher Airlines and several officials of the IDBI Bank.
Although there is a non-bailable warrant against him and his passport has been revoked, Mr Mallya has not been questioned even once. Now that the charge-sheet has been filed, the CBI can ask the authorities in UK to extradite Mr Mallya.
Mr Mallya's Kingfisher Airlines owes Rs 9,091 crore to a consortium of 17 banks, which have moved the Supreme Court to recover the loans. They have told the court that though they were willing to negotiate, Mr Mallya has not been totally forthcoming about his assets.