In a major setback for beleaguered liquor baron Vijay Mallya, the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) are preparing a charge sheet alleging that the business tycoon have diverted a major chuck of the Rs 6,000 crore bank loans to shell companies.
The loan of Rs 6,000 crore was taken for Kingfisher Airlines from a consortium of banks led by State Bank of India.
The money has been reportedly diverted to various shell companies in seven countries, including the US, UK, France and Ireland. The CBI and ED have claimed have been able to connect the links between the shell companies and bank accounts in the seven countries.
As per reports, the latest evidence against the liquor baron will be submitted before the London Court where the hearing will take place in December. As of now, the agencies have presented the charges in the nearly Rs 900 crore IDBI Bank loan default case before the UK Court.
The agencies have also informed that Vijay Mallya has huge property in the US in the name of his daughters – Leana and Tanya.
Vijay Mallya fled to Britain in March 2016 after being pursued for recovery of Rs 8,191 crore owed to a consortium of 17 Indian banks led by SBI. He was arrested and granted bail in London on April 18 by the Scotland Yard on an extradition warrant.
The Indian government in February this year, handed over to British authorities a formal request for Mallya’s extradition, saying it had a legitimate case against him on charges of financial irregularities and loan default.
Earlier in July, the Supreme Court had adjourned the hearing on contempt case proceeding against the loan defaulter and further added that the hearing in case will be proceeded further only when Vijay Mallya is produced before it.