Mallya siphoned Rs 263 crore from IDBI loan, claims CBI

In the charge sheet, the CBI alleged that Kingfisher Airlines had diverted Rs 263 crore from the Rs 900 crore IDBI loan for “personal use”.

Published: 25th January 2017 02:05 AM  |   Last Updated: 25th January 2017 04:42 AM   |  A+A-

Vijay Mallya. (File photo | EPS)

Former UB Group chairman Vijay Mallya. | File Photo

By Express News Service

NEW DELHI: The CBI on Tuesday filed a charge sheet against former UB Group chairman Vijay Mallya and 11 others in connection with the default of a loan granted by IDBI bank to the now-defunct Kingfisher Airlines. ​

In the charge sheet, the CBI alleged that Kingfisher Airlines had diverted Rs 263 crore from the Rs 900 crore IDBI loan for “personal use”.

The charge sheet invokes sections 120B (criminal conspiracy), 420 (cheating) of IPC and section 13(1)(D) of Prevention of Corruption Act.

Earlier, the CBI arrested former chairman of IDBI Bank Yogesh Aggarwal along with four other former officials. Under Aggarwal, the bank granted over Rs 900 crore to Kingfisher Airlines.



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