Troubled businessman Vijay Mallya had enough money to repay banks before he went on the run, the Central Bureau of Investigation (CBI) has said in its supplementary chargesheet filed in a Mumbai court, but he used that money to invest abroad. In order to buy property. The CBI has said in its supplementary charge sheet that Vijay Mallya bought properties worth Rs 330 crore in England and France during 2015-16 while his Kingfisher Airlines was in trouble.
It has been said in the CBI charge sheet that the banks had not recovered the loan repaid by the liquor baron at that time. Vijay Mallya is an accused in the IDBI Bank-Kingfisher Airlines loan fraud case of over Rs 900 crore, which is being probed by the CBI. The central probe agency has filed a supplementary charge sheet before a special CBI court in Mumbai. All the 11 accused named in the earlier charge sheet, including former IDBI Bank general manager Buddhadeb Dasgupta, have also been named in the supplementary charge sheet.
Former IDBI GM Buddhadeb Dasgupta accused of misuse of position
The CBI alleged that former IDBI GM Buddhadeb Dasgupta, abusing his official position, entered into a conspiracy with bank officials and Vijay Mallya in the matter of sanction and disbursement of short-term loans of Rs 150 crore in October 2009, PTI reported. According to the CBI, the loan of Rs 150 crore which is under probe was to be adjusted or repaid by Dasgupta from the total loan of Rs 750 crore demanded by Kingfisher.
However, post loan allocation, the resolution changed to show that as if the credit committee had treated it as a separate loan, which could be recovered adjusted against the total loan. The charge sheet states that the exposure of IDBI Bank was to be limited to an aggregate amount of Rs 750 crore. But it went up to Rs 900 crore in December 2009, as a loan of Rs 150 crore was shown as a separate loan at the behest of Dasgupta.
During the investigation, letters of request were sent to the United Kingdom, Mauritius, USA and Switzerland, as per the permission of the CBI court. Courts of one country seek the assistance of the courts of another country through Letters Rogatory to ensure justice in a case, if the accused resides in those countries or has taken refuge in those countries after the crime. The CBI has said in its charge sheet that during the investigation, evidence was collected from these countries in the case of Vijay Mallya.
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