Vijay Mallya: Mallya Who Bought Properties Worth Hundreds Of Crores Even In The Crisis.

Vijay Mallya: During 2015-16, when Kingfisher Airlines was facing cash shortages and was stuck in crisis, Indian businessman Vijay Mallya bought large-scale assets abroad, according to the CBI. The central investigation agency explained that Mallya bought properties worth Rs.330 crore in England and France. This made it clear that even the banks could not recover the loans from him. To this extent, the CBI has revealed these details in the supplementary chargesheet presented in Mumbai. Mallya took a large loan from IDBI Bank for Kingfisher Airlines and moved abroad without paying it. The CBI is investigating the case since then.

Along with the names of 11 accused in the previous chargesheet, the central agency has also included the name of former general manager of IDBI Bank, Buddhadev Dasgupta, in the newly submitted chargesheet. In October 2009, Rs. The CBI has alleged that Buddhadev conspired with Vijay Mallya, including officials of IDBI Bank, to grant a short-term loan of Rs 150 crore, which amounted to abuse of his position.

The CBI said that between 2008 and 2016-17, Mallya had sufficient cash reserves, but these were not used for Kingfisher Airlines, which was in crisis, or for repaying loans. At the same time, in 2008, LE Grand Jardin was purchased in France worth Rs. 250 crores, and in 2015-16, Rs. It is said that Ladywalk was bought in UK for 80 crores. She said that they fled abroad according to a well-planned plan.

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The CBI, which registered the chargesheet, revealed more key facts based on the evidence collected through letters rogatory (LRs). Between 2008-12, Force India said that large sums of money were transferred to the Formula 1 team. Mallya then explained that a large sum of money was diverted for a corporate jet. Along with the CBI, the Enforcement Directorate (ED) is also investigating the money laundering case against Mallya. On January 5, 2009, a special court in Mumbai declared Mallya an absconder. Under the Fugitive Economic Offenders Act, the prosecuting agency has the power to seize the assets of a person declared an economic evader.

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