MUMBAI: The Enforcement Directorate (ED) on Wednesday filed a chargesheet against liquor baron Vijay Mallya at the special PMLA court here.
Mallya had been granted a bail by a London court on Tuesday.The 57-page chargesheet is in connection with the money laundering probe in the IDBI-KFA bank loan case and is filed under various sections of the Prevention of Money Laundering Act (PMLA), sources said.
The ED had registered a criminal case in the case last year. Officials said that the chargesheet explains how around Rs 400 crore of funds were moved out of the country in violation of rules.
The ED probe so far has revealed that the Kingfisher Airlines (KFA) along with IDBI bank officials “criminally conspired to obtain funds to the tune of Rs 860.92 crore despite weak financials, negative net-worth, non-compliance of corporate credit policy of new client, non-quality collateral security and low credit rating of the borrower, out of which Rs 807.82 crore of principal amount remains unpaid.” Money trail analysis has revealed that out of the total loan of Rs 860.92 crore sanctioned and disbursed by IDBI, Rs 423 crore has been remitted out of India.
The payments were shown to be made towards aircraft rental leasing and maintenance, servicing and spare parts, the ED had said. Next hearing of the extradition case filed against him is scheduled to be on July 6.