In a bid to tighten its grip around liquor baron Vijay Mallya and speed up his extradition from the United Kingdom to India, the Central Bureau of Investigation and the Enforcement Directorate are preparing a charge sheet alleging he laundered a considerable amount of the Rs 6,000 crore bank loans taken for Kingfisher Airlines.
Vijay Mallya diverted most of the Rs 6,000 crore he borrowed from a State Bank of India-led consortium of lenders, according to investigations by the Central Bureau of Investigation and the Enforcement Directorate. They will soon file a fresh charge sheet based on these findings against the businessman, who’s been in the UK since March 2016. The funds were allegedly diverted to shell companies in half a dozen countries, according to the agencies.
A report in The Times of India said on Monday that the money was diverted through shell companies in seven countries, including the US, the UK, France, and Ireland.
"Letters rogatory have already been sent to the US, the UK, France and Ireland and we will get complete details soon," an official has been quoted as saying in the report. The official has claimed that the agencies have been able to establish the links between the shell companies and bank accounts in the seven countries.
Explaining the systematic way in which Mallya duped the banks, the official said he used to pay back some part of the loan to the banks to gain their confidence to get more funds from them.
The latest evidence will be submitted before the London court where the final extradition hearing will take place in December. At present, in front of the UK court, the agencies have presented the charges in the nearly Rs 900 crore IDBI Bank loan default case.