Did Vijay Mallya divert massive loans to shell companies ??

In a fresh piece of information that has emerged out in the public domain

In a fresh piece of information that has emerged out in the public domain, Vijay Mallya, who is currently in Britain, may have put a large portion of the Rs 6,207-crore loan taken from a consortium of banks into shell companies. A leading daily has quoted official sources in CBI and Enforcement Directorate as saying that the money was diverted to shell companies in seven countries.

While Mallya has repeatedly denied any wrongdoing, CBI and ED though are now preparing a chargesheet and it is reported that a large chunk of the money – taken as loan to help the now defunct Kingfisher Airlines recover – could have been put in shell companies in UK, France, Ireland etc.

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 by his now defunct Kingfisher Airlines. He was arrested and granted bail in London on April 18 by the Scotland Yard on an extradition warrant.

Back to top button