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Rs
6,000-cr loan is diverted by to shell firms in 7 nations
CBI, ED
preparing chargesheet to strengthen extradition case; Mallya alleged to have
systematically duped banks by repaying some loan and borrowing more after
gaining their confidence.
Strengthening the
case for fugitive businessman Vijay Mallya's extradition from the United
Kingdom, the Central Bureau of Investigation (CBI) and the Enforcement
Directorate (ED) are reported to be preparing a charge sheet alleging
the former liquor baron laundered a major chunk of the Rs 6,027-cr loan taken
for the defunct Kingfisher Airlines.
Mallya, the
61-year-old chief of the erstwhile Kingfisher Airlines who owes over
Rs 9,000 crore to IDBI Bank and various other Indian banks, had fled India to
escape legal proceedings in connection with default on the loan repayment.
The money, borrowed
from a consortium of banks led by State Bank of India, was allegedly diverted
through shell firms in seven countries, including the United States (US), the
UK, France and Ireland, The Times of India reported
on Monday.
“Now, we have
established links with shell companies and bank accounts in at least seven
countries,” the English daily quoted an official as saying. The letters have
been been sent to the US, UK, France and Ireland and the
officials would get more details soon.
The official said
Mallya systematically duped banks by repaying some amount of the loan and
borrowing more funds after gaining their confidence.
The current
evidence is scheduled to be submitted before a London court, where the extradition
trial to bring Mallya to face court proceedings in India is scheduled for two
weeks starting December 4.
The ED has
identified properties worth Rs 11,000 crore belonging to Mallya, even as the
latter has denied all allegations. Mallya's properties worth Rs 9,000 cr have
already been attached under the Prevention of Money Laundering Act.
Mallya, in a
self-imposed exile since March 2016, was arrested by Scotland Yard on an
extradition warrant on April 18, and is currently out on bail.
India and the UK have
an Extradition Treaty, signed in 1992 and in force since November 1993.
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